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REUTERS/Kim Kyung-Hoon A monitor displaying the Nikkei stock average is seen in front of monitors displaying the Japanese yen exchange rate against the U.S. dollar at a dealing room of he foreign exchange trading company Gaitame.com in Tokyo, Japan November 6, 2024.
Reuters
15:24 JST, November 21, 2024
Foreigners purchased Japanese stocks for an eighth successive week, encouraged by a weaker yen and earnings upgrades by major domestic lenders, though a broader correction in stock markets tempered inflows.
Foreigners acquired ¥127.6 billion ($823.5 million) worth of Japanese stocks on a net basis in the week through Nov. 16, according to Ministry of Finance data.
They had net bought stocks for nine consecutive weeks through Nov. 25, 2023.
However, Japan’s Nikkei stock index shed 2.17% last week as investors ditched technology stocks on prospects of a slower pace of Federal Reserve rate cuts.
Foreigners have purchased a net ¥2.62 trillion worth of Japanese shares so far this year, compared with about ¥4.54 trillion worth of net accumulations in the same period last year.
They pumped ¥1.16 trillion into long-term bonds last week, the most for a week since Oct. 5, but divested ¥1.64 trillion worth of short-term bills.
At the same time, Japanese investors bought a net ¥169.1 billion worth of foreign stocks after being sellers in the five weeks prior.
They, however, sold long-term foreign bonds to the tune of ¥966.9 billion , following ¥1.72 trillion worth of net purchases in the prior week. ($1 = ¥154.9400 )
