Foreigners were net sellers of Japanese stocks for a third consecutive week that ended on May 24 on concerns over Sino-U.S. trade dispute and its impact on local tech firms’ second quarter earnings, reports Trend citing to Reuters
Overseas investors sold net 489.2 billion yen ($4.46 billion) worth of Japanese stocks, including cash equities and futures during that week, data from Japanese stock exchanges showed.
Foreigners sold a net 409.3 billion yen in derivative markets, and 79.9 billion yen in cash markets, the data showed.
Optimism over a Sino-U.S. trade deal — which boosted risky assets including Japanese shares earlier this year — dwindled after the United States implemented fresh tariffs on May 10.
Global tech shares were also pressured by media reports last week, which said the United States was considering Huawei-like sanctions on Chinese video surveillance firm Hikvision.
In the May 20-24 week, Japan’s Nikkei index fell for the third straight week, shedding 0.63%, while the Topix index lost 0.84%
Japanese investors bought 18.8 billion yen of overseas equities in the week ended May 24, their third straight week of net purchase, Ministry of Finance data showed.
Follow Trend on Telegram. Only most interesting and important news
