Overseas investors buy Japanese stocks for third successive week

April 25, 2019

(Reuters) – Foreigners were net buyers of Japanese stocks for a third consecutive week in April 15-19, encouraged by China’s better-than-expected economic data and on hopes of progress in Japan-U.S. trade talks.

Overseas investors bought a net 796.28 billion yen ($7.12 billion) of Japanese stocks, including cash equities and futures that week, data from Japanese stock exchanges showed.

Foreigners bought a net 553.43 billion yen in cash markets and 242.85 billion yen in derivative markets, the data showed.

Japan’s Nikkei index gained over 1.5 percent in April 15-19, while the Topix index advanced 0.72 percent.

China’s economy grew 6.4 percent in the first quarter from a year earlier, official data showed last week, defying expectations for a further slowdown in its growth pace. Industrial output in March expanded at the fastest pace since mid-2014.

On talks between Tokyo and Washington, Japanese Economy Minister Toshimitsu Motegi said no deal had been reached on individual trade issues after two days of negotiations with U.S. Trade Representative Robert Lighthizer, but Motegi hoped for a good result “at an early stage”.

Foreign flows into Japanese stocks – https://tmsnrt.rs/2GFRGC4

On the other hand, Japanese investors sold 107.1 billion yen worth of overseas equities in April 15-19, which was the second consecutive weekly sales by residents, the Ministry of Finance data showed.

Japanese investments in stocks abroad – https://tmsnrt.rs/2GJ71SF

(Reporting by Gaurav Dogra and Patturaja Murugaboopathy; Editing by Richard Borsuk)

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