May 23, 2019 / 10:01 AM / 4 months ago

Foreigners net sellers of Japan stocks for 2nd week ended May 17

May 23 (Reuters) - Foreigners were net sellers of Japanese stocks for a second consecutive week ended May 17 as an escalation of Sino-U.S. trade tensions prompted investors to get out of riskier assets.

Overseas investors sold a net 393.6 billion yen ($3.57 billion) of Japanese stocks, including cash equities and futures in that week, data from Japanese stock exchanges showed.

Foreigners sold a net 276.2 billion yen in derivative markets, and 117.4 billion yen in cash markets, the data showed.

The United States and China increased import tariffs on each other’s goods over the past two weeks after U.S. President Donald Trump said China had reneged on earlier commitments made during months of negotiations.

The U.S. Commerce Department’s announcement that it is putting China’s Huawei Technologies Co Ltd and 70 affiliates on its so-called “Entity List”, also added to the jitters around the trade war.

In the May 13-17 week, Japan’s Topix index gained 0.3 percent, after touching a four-month low of 1,508.85. The Nikkei index fell for the second straight week, shedding 0.4 percent.

Japanese investors bought 241.7 billion yen of overseas equities in the week ended May 17, their second straight week of net purchase, Ministry of Finance data showed. ($1 = 110.2700 yen)

Reporting by Gaurav Dogra and Patturaja Murugaboopathy; Editing by Jacqueline Wong

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