November 14, 2019 / 8:04 AM / a month ago

Foreigners buy Japanese stocks for fifth straight week

Nov 14 (Reuters) - Foreigners were net buyers of Japanese stocks for a fifth consecutive week last week, as optimism grew that the United States and China could clinch an interim trade deal.

Cross-border investors bought a net 578.75 billion yen of Japanese stocks, including cash equities and futures, in the week ended Nov. 8, the highest in three weeks, data from Japanese stock exchanges showed.

Overseas investors bought a net 118.54 billion yen in derivative markets and 460.21 billion yen in cash markets, the data showed.

Last week, both the Nikkei and the Topix indexes added over 2%, marking their fifth successive weekly gain.

Both indexes are weaker this week, as a lack of agreement between Washington and Beijing on issues like tariffs’ rollback nL2N27O0Q7 and farm purchases nFWN27T0QK, along with missing details nL2N27S0OL on the location and date of signing the ‘phase one’ deal in U.S. President Donald Trump’s speech on Tuesday, raised doubts if the deal will be signed soon.

Japanese investors last week bought 243.2 billion yen worth of overseas equities, their seventh straight week of net purchases, data from the Ministry of Finance showed.

Reporting by Gaurav Dogra and Patturaja Murugaboopathy; Editing by Subhranshu Sahu

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