October 25, 2018 / 8:59 AM / in 6 months

Foreigners sold Japanese stocks for second straight week in week ending Oct 19

Oct 25 (Reuters) - Foreigners were net sellers of Japanese stocks for a second consecutive week in the week ending on Oct. 19, as shares fell on rising U.S. yields and concerns around slowing growth in China.

Last week, overseas investors sold a net 1.12 trillion yen ($9.97 billion) worth of Japanese stocks, including cash equities and futures, data from Japanese stock exchanges showed.

The Topix index fell 0.56 percent last week, while the Nikkei index shed 0.72 percent, both marking their third successive weekly decline.

The two indexes have seen steeper declines this week, following the rout in global stocks on concerns over valuations, earnings growth and trade tensions between U.S. and China.

On Thursday, the Topix index hit a fresh one-year low, dropping 3.0 percent to 1,601.73, causing market capitalization to fall below 600 trillion yen for the first time since September 2017.

In the last week, Japanese investors bought 287.8 billion yen worth of overseas equities, data from the Ministry of Finance showed. It was their eighth consecutive weekly purchase.

($1 = 112.1000 yen)

Reporting by Patturaja Murugaboopathy and Gaurav Dogra; Editing by Simon Cameron-Moore

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