August 9, 2018 / 7:58 AM / 3 months ago

Foreigners turn net sellers of Japanese stocks as trade tensions rise

Aug 9 (Reuters) - Foreigners sold Japanese stocks in the week ended Aug. 3 as global trade tensions escalated after U.S. President Donald Trump proposed a higher 25 percent tariff on $200 billion worth on Chinese imports.

Overseas investors sold a net 363.5 billion yen ($3.27 billion) of Japanese stocks last week, including cash equities and futures, data from Japanese stock exchanges showed. It was the first outflow in four weeks.

The Topix index fell 1.86 percent in the last week, while the Nikkei index dropped 0.8 percent.

However, the monthly data showed that foreigners turned net buyers of Japanese equities in July boosted by positive earnings.

In the last week, Japanese investors bought 505 billion yen ($4.55 billion)worth of overseas equities, data from the Ministry of Finance showed. It was their 19th consecutive weekly purchase.

($1 = 111.0200 yen)

Reporting by Gaurav Dogra,Patturaja Murugaboopathy; Editing by Kim Coghill

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