December 6, 2018 / 8:49 AM / 10 days ago

Foreigners turned net buyers of Japanese stocks in week ended Nov 30

Dec 6 (Reuters) - Foreigners were net buyers of Japanese stocks for the first time in three weeks in the week ended Nov. 30, on optimism ahead of the meeting between U.S. President Donald Trump and Chinese President Xi Jingping at the G20 summit in Argentina.

Overseas investors bought a net 196 billion yen ($1.73 billion) worth of Japanese stocks, including cash equities and futures, data from Japanese stocks exchanges showed. Foreigners bought 406.2 billion yen in derivative markets, and sold 210.2 billion yen in cash markets, the data showed.

The Topix index gained 2.4 percent last week, while the Nikkei index surged 3.3 percent.

The two indexes rose again on Monday as the world’s two largest economies agreed to a 90-day truce to their trade war, in the weekend. However they have fallen sharply since then, on emerging doubts over the durability of the deal.

On the other hand, Japanese investors sold 75 billion yen worth of overseas equities last week, data from the Ministry of Finance showed, which was their first weekly sales in three weeks.

($1 = 112.8100 yen)

Reporting by Gaurav Dogra and Patturaja Murugaboopathy ; Editing by Rashmi Aich

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