November 29, 2018 / 7:42 AM / 20 days ago

Foreigners sold Japanese stocks for second straight week ending Nov 23

Nov 29 (Reuters) - Foreigners were net sellers of Japanese stocks for the second consecutive week that ended on Nov.23, following a sharp sell-off in U.S. equities, while news about the arrest of Nissan Motor’s Chairman Carlos Ghosn also soured sentiment.

In a holiday-curtailed week, overseas investors sold a net 511.2 billion yen ($4.51 billion) worth of Japanese stocks, including cash equities and futures, data from Japanese stock exchanges showed, which was the highest in four weeks.

A sharp fall in oil prices also dragged down the resource stocks and the broader market slumped to a three-week low last week.

The Topix index fell 0.02 percent last week, while the Nikkei index shed 0.16 percent. However, the two indexes have registered steep gains this week on hopes of a possible de-escalation of the U.S.-China trade dispute.

Japanese investors bought 80.8 billion yen worth of overseas equities last week, data from the Ministry of Finance showed. It was their second consecutive weekly purchase.

($1 = 113.2700 yen)

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

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