November 16, 2018 / 8:15 AM / 10 months ago

Foreigners turned net buyers of Japanese stocks in the week to Nov.9

Nov 16 (Reuters) - Foreigners were net buyers of Japanese stocks for the first time in five weeks in the week ended Nov. 9, as equity values rose thanks to a rally in Wall Street after the U.S. midterm elections produced no major surprises.

Last week, overseas investors bought a net 342 billion yen ($3.02 billion) of Japanese stocks, including cash equities and futures, data from Japanese stock exchanges showed.

The Nikkei share average touched a two-week high last week, but it fell 2.5 percent this week on concerns over earnings growth and a slowing global economy.

Refinitiv data showed 58 percent of Japanese companies have missed consensus earnings expectations for the second quarter.

Turning cautious on foreign markets, Japanese investors turned net sellers of overseas equities for the first time in 11 weeks in the last week, selling 203 billion yen worth of stocks.

($1 = 112.1000 yen)

Reporting by Patturaja Murugaboopathy and Gaurav Dogra Editing by Shri Navaratnam

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