August 2, 2018 / 8:59 AM / 2 months ago

Foreigners buy Japanese stocks for third consecutive week

Aug 2 (Reuters) - Foreign investors bought Japanese stocks for the third straight week that ended on July 27 as trade tensions receded somewhat with the United States and Europe agreeing informally to hold off on tariffs.

Overseas investors bought a net 146.2 billion yen ($1.31 billion) of Japanese stocks last week, including cash equities and futures, data from Japanese stock exchanges showed.

The buying was more focused on Topix futures on reports that the BOJ would increase the amount of purchases for Topix-linked ETFs and reduce buying of Nikkei-linked ETFs.

According to the data, foreign investors bought 162 billion yen ($1.45 billion) in Topix futures and sold 63.55 billion yen ($569.2 million) in Nikkei 225 futures in the last week.

The Topix index gained 1.76 percent in the last week, while the Nikkei index rose just 0.08 percent.

Japanese investors, on the other hand, bought overseas equities for 18th consecutive week, data from the Ministry of Finance showed.

On Thursday, Japanese shares dropped sharply, with the trade war back in focus as U.S. President Donald Trump’s administration proposed a higher 25 percent tariff on $200 billion worth of Chinese imports.

($1 = 111.6500 yen)

Reporting by Gaurav Dogra, Hideyuki Sano and Patturaja Murugaboopathy; Editing by Gopakumar Warrier

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