June 4, 2020 / 6:50 AM / a month ago

Foreigners net buyers of Japanese stocks for second straight week

June 4 (Reuters) - Foreign investors purchased Japanese equities for a second straight week on hopes of a global economic recovery, as more countries gradually reopened after coronavirus-related lockdowns.

Overseas investors purchased a net 410.26 billion yen ($3.76 billion) worth of stocks in the week ended May 29, data from Japanese stock exchanges showed.

They purchased 431.94 billion yen worth of derivatives, but sold 21.68 billion yen in cash markets last week.

The Nikkei index surged 7.3% and the Topix index gained 5.8% last week, as Prime Minister Shinzo Abe lifted the state of emergency for Tokyo and four remaining areas in Japan.

Japanese investors purchased a net 185.2 billion yen worth of overseas equities last week, marking a fourteenth successive week of net buying, finance ministry data showed. ($1 = 109.0800 yen)

Reporting by Gaurav Dogra and Patturaja Murugaboopathy; Editing by Rashmi Aich

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