September 21, 2018 / 8:27 AM / 2 months ago

Foreigners turned net buyers of Japanese stocks last week

Sept 21 (Reuters) - Foreign investors turned net buyers of Japanese stocks in the week ended Sept. 14, helped by a weaker yen and an improved risk sentiment after Washington invited Beijing for a new round of talks.

In the last week, overseas investors bought a net 133.77 billion yen ($1.19 billion) of Japanese stocks, including cash equities and futures, data from Japanese stock exchanges showed.

The yen fell 0.88 percent last week, its biggest decline in 9 weeks. It touched a more than a two month low as of Friday.

The Topix index gained 2.63 percent last week, marking its biggest weekly gain since end March, while the Nikkei rose 3.53 percent, its biggest weekly gain since mid-July.

This week, Washington and Beijing imposed tit-for-tat tariffs on each other’s goods, though the immediate tax levels were not as high as initially expected, easing fears of a sharp, sudden shock to global growth and lifting stock markets.

Japan’s major stock indexes hit multi-month highs on Friday.

In the last week, Japanese investors bought 233 billion yen worth of overseas equities, data from Ministry of Finance showed. It was their third consecutive weekly purchase. ($1 = 112.8400 yen)

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

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