August 8, 2019 / 7:00 AM / 3 months ago

Japanese stocks see overseas money outgo in week ending August 2

Aug 8 (Reuters) - Foreigners turned net sellers of Japanese stocks in the week ended Aug. 2 as the United States ramped up pressure on China with a $300 billion trade barrage last week.

Overseas investors sold a net 629.66 billion yen ($5.94 billion) of Japanese stocks, including cash equities and futures that week, data from Japanese stock exchanges showed.

They sold a net 420.5 billion yen in derivative markets and about 209.2 billion yen in cash markets, the data showed.

Cross border selling in Japanese stocks in the week ended August 2 was the biggest since early May, when U.S. President Donald Trump raised tariffs on $200 billion of Chinese goods to 25% from 10%.

Trump said last Thursday he would slap a 10% tariff on the remaining $300 billion of Chinese imports starting Sept. 1, marking an end to a truce in the year-long trade war.

In the week ended Aug. 2, the Nikkei index fell 2.6%, while the Topix index shed about 2.4%, both marking their biggest weekly declines since May 10.

On the other hand, Japanese investors purchased 95.3 billion yen worth of overseas equities in the last week, data from the Ministry of Finance showed. ($1 = 106.0200 yen)

Reporting by Gaurav Dogra and Patturaja Murugaboopathy; editing by Darren Schuettler

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