July 25, 2019 / 10:03 AM / 23 days ago

Foreigners turned net sellers of Japan stocks in week ending July 19

July 25 (Reuters) - Foreigners were net sellers of Japanese stocks in the week ended July 19 as dismal exports data and gloomy expectations about the June quarter earnings curbed appetite for domestic shares.

Overseas investors sold a net 86.25 billion yen ($798 million) of Japanese stocks, including cash equities and futures that week, data from Japanese stock exchanges showed.

Foreigners sold a net 144.4 billion yen in cash markets but purchased about 58.2 billion yen in derivative markets, the data showed.

Some lacklustre results from U.S. companies such as railway transport company CSX Corp stoked concerns about the June quarter performance of companies worldwide.

Japanese firms’ June-quarter earnings are expected to fall 19% over the last year, according to the consensus estimates available on Refinitiv Eikon.

In the week ended July 19, the Nikkei index lost over 1% and the Topix index shed about 0.8%.

Last week, Japanese stocks came under further pressure after trade data showed that Japan’s June exports to China dropped more than 10% from a year earlier, its sixth monthly fall in the past seven months.

Japanese investors sold 76.8 billion yen worth of overseas equities last week, for a second straight week of net selling, data from the ministry of finance showed. ($1 = 108.0800 yen)

Reporting by Gaurav Dogra and Patturaja Murugaboopathy; editing by Gopakumar Warrier

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