March 7, 2019 / 8:50 AM / 6 months ago

Foreigners net buyers of Japanese stocks for third successive week

March 7 (Reuters) - For a third successive week foreigners were net buyers of Japanese stocks in the week that ended on March 1, helped by a weaker yen and optimism over trade talks between the United States and China.

Overseas investors bought a net 172.8 billion yen ($1.55 billion) worth of Japanese stocks, including cash equities and futures during that week, data from Japanese stocks exchanges showed.

Foreigners bought 368 billion yen in derivative markets, and sold 195.2 billion yen in cash markets, the data showed.

Japan’s Nikkei index rallied to a 10-week high last week after U.S. President Donald Trump confirmed he would delay a planned tariff increase on Chinese imports following “productive” trade talks.

The Topix index also gained about 0.8 percent in the last week. A sharp decline in the yen against the dollar, also boosted major exporters’ shares.

This week, both Japanese benchmarks lost more than half a percent to snap their three week-long rally, tracking declines in U.S. shares.

In the last week, Japanese investors sold 1.6 billion yen worth of overseas equities, for an eighth straight week of net selling, data from the Ministry of Finance showed. ($1 = 111.7300 yen)

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

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