October 4, 2018 / 7:35 AM / 2 months ago

Foreigners bought Japan stocks for third straight week Sept 24-28

Oct 4 (Reuters) - Foreigners were net buyers of Japanese stocks for the third consecutive week through Sept. 28, helped by a weaker yen and an upbeat corporate outlook.

Last week, overseas investors bought a net 172.36 billion yen ($1.51 billion) worth of Japanese stocks, including cash equities and futures, data from Japanese stock exchanges showed.

The yen fell to a 11-month low against the dollar on Thursday due to a spike in U.S. Treasury yields and was set for its fifth consecutive weekly fall.

The U.S. Treasury yield surged to its highest since May 2011 on Thursday.

A softer yen enhances export competitiveness for the likes of Toyota Motor Co and Canon Inc and is usually considered a boon for Japan Inc.

The Nikkei index gained 1.05 percent last week to a 27-year high, while the Topix index gained 0.73 percent last week, its third consecutive weekly gain.

In the last week, Japanese investors bought 334.1 billion yen worth of overseas equities, data from Ministry of Finance showed. It was their fifth consecutive weekly purchase. ($1 = 114.3400 yen)

Reporting By Patturaja Murugaboopathy and Gaurav Dogra; Editing by Kim Coghill

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