January 11, 2019 / 9:26 AM / 3 months ago

Foreigners sold Japanese stocks for 5th straight week ending Jan 4

Jan 11 (Reuters) - Foreigners remained net sellers of Japanese stocks for the fifth straight week that ended on Jan. 4, as concerns about slowing global growth weighed on investor sentiment.

In a holiday-curtailed week, overseas investors sold a net 77.34 billion yen ($713.73 million) worth of Japanese stocks, including cash equities and futures, data from Japanese stocks exchanges showed.

Foreign investors were net sellers of 7.52 trillion yen worth of Japanese equities in 2018, the most in at least five years, and their first net annual sales in three years.

The Topix index fell 1.54 percent last week after a 0.4 percent gain in the prior week, while the Nikkei index shed 2.26 percent for a fifth straight week, its longest losing streak since August 2017.

This week, both of the Japanese equity benchmarks are up about four percent on optimism that trade talks between the United States and China will succeed in de-escalating a trade war.

Last week, Japanese investors bought 24.6 billion yen worth of overseas equities, making their second straight week of purchases, data from the Ministry of Finance showed.

In December, Japanese investors were net sellers of 260 billion yen worth of overseas equities, their first monthly net sales in nine months. ($1 = 108.3600 yen)

Reporting by Gaurav Dogra and Patturaja Murugaboopathy

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