June 13, 2019 / 9:46 AM / 14 days ago

Foreigners net sellers of Japan stocks for 5th week ended June 7

June 13 (Reuters) - Foreigners were net sellers of Japanese stocks for a fifth consecutive week that ended June 7, though the outflows were capped due to optimism from a U.S.-Mexico trade deal.

Overseas investors sold a net 66.7 billion yen ($615.94 million) worth of Japanese stocks, including cash equities and futures, in that week, the lowest in five weeks, data from Japanese stock exchanges showed.

Foreigners sold a net 114.4 billion yen in cash markets, but purchased a net 47.7 billion yen in derivative markets, the data showed.

In the June 3-7 week, the Nikkei index gained 1.4%, its first weekly gain in five weeks, while the Topix index rose 1.3%, marking its best week since April 5.

On June 7, the United States and Mexico struck a deal to avert a tariff war, with Mexico agreeing to rapidly expand a controversial asylum programme and deploy security forces to stem the flow of illegal Central American migrants.

However, tensions have ratcheted up between the United States and China which continue to hurt market sentiment. U.S. President Donald Trump has said he is ready to impose another round of punitive tariffs on Chinese imports if he cannot make progress in talks with China’s president at a Group of 20 summit later this month.

Japanese investors bought 30.6 billion yen of overseas equities in the week ended June 7, their fifth straight week of net purchase, data from the Ministry of Finance showed. ($1 = 108.2900 yen)

Reporting by Gaurav Dogra and Patturaja Murugaboopathy; Editing by Jacqueline Wong

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