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Foreigners remained net sellers of Japanese equities last week

Oct 29 (Reuters) - Foreign investors remained net sellers of Japanese equities last week on concerns whether U.S. lawmakers could push through a key U.S. stimulus bill before the presidential election on Nov. 3.

Foreigners were net sellers of stocks worth 64.86 billion yen ($619.48 million) for the week ended Oct. 23, data from Japanese exchanges showed. This consisted of derivative sales worth 62.18 billion yen and 2.68 billion yen in cash markets.

U.S. lawmakers struggled to reach an agreement on a new round of U.S. fiscal stimulus last week, raising concerns about the delay in the bill’s passage.

Investors also reduced their exposure to riskier assets ahead of U.S. elections, which could cap gains in Japanese shares. Also denting sentiment were rising COVID-19 cases in Europe and the United States.

But, Japanese stock indexes — the Topix and the Nikkei share average — both gained about 0.5% last week.

Meanwhile, Japanese investors net sold overseas equities worth 19.9 billion yen last week, finance ministry data showed. ($1 = 104.7000 yen)

Reporting by Gaurav Dogra and Patturaja Murugaboopathy; editing by Uttaresh.V

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