November 22, 2018 / 8:44 AM / 5 months ago

Foreigners turned net sellers of Japanese stocks in the week to Nov.16

Nov 22 (Reuters) - Foreigners were net sellers of Japanese stocks in the week ended November 16, as local shares fell tracking the sharp losses in U.S. equities and concerns over slowing earnings also undermined sentiment.

Last week, overseas investors sold a net 262.6 billion yen ($2.32 billion) of Japanese stocks, including cash equities and futures, data from Japanese stocks exchanges showed.

Both the Nikkei share average and the Topix index shed about 2.5 percent each in the last week.

After hitting a 27-year high in January, the TOPIX index had fallen nearly 15 percent as of Thursday’s close.

Refinitiv data showed 58 percent of Japanese companies have missed consensus earnings expectations for the second quarter so far.

On the other hand, Japanese investors turned net buyers of overseas equities last week, purchasing 245.3 billion yen worth of overseas equities, data from the Ministry of Finance showed.

($1 = 113.0200 yen)

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

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