July 20, 2018 / 7:44 AM / a year ago

GRAPHIC-Foreigners turn net buyers of Japanese stocks for first time in 4 weeks

July 20 (Reuters) - Foreign investors became net buyers of Japanese stocks in the last week helped by the yen’s declines against the dollar.

A weakening yen benefits local companies’ export revenues and tends to prop up domestic equity markets.

In the week ended July 13, overseas investors bought a net 283.5 billion yen ($2.52 billion) of Japanese stocks, including cash equities and futures, data compiled from Japanese stock exchanges showed.

That was the first inflow in four weeks, the data showed.

Bolstered by their buying, the Topix index rose 2.28 percent that week, while the Nikkei index has gained 3.71 percent.

The dollar climbed to a six-month high against the yen this week on upbeat comments on the U.S. economy by Federal Reserve Chairman Jerome Powell.

($1 = 112.39 yen)

Reporting by Gaurav Dogra and Patturaja Murugaboopathy Editing by Shri Navaratnam

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