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Japanese stocks get highest weekly foreign inflows in over 1 year

Nov 12 (Reuters) - Japanese equities saw their biggest foreign inflows in more than a year last week on expectations that Democrat Joe Biden would beat President Donald Trump in the U.S. presidential elections, bolstering risk assets around the world.

Foreigners were net buyers of stocks worth 1.1 trillion yen($10.46 billion) for the week ended Nov. 6, the highest since mid-October 2019, data from Japanese exchanges showed.

They purchased 741.77 billion yen worth of derivatives and 357.26 billion yen in cash equities markets.

The expectations of fewer regulatory reforms and more monetary stimulus under U.S. President-elect Joe Biden lifted risk appetite last week.

Both the Nikkei share average and the Topix gained over 5% each and marked their best week since end-May.

This week, the indexes have risen another 3%, after Pfizer Inc announced on Monday that its COVID-19 vaccine candidate, developed with German partner BioNTech, showed a 90% success rate in preventing infection during trials.

Meanwhile, Japanese investors purchased overseas equities worth 140.5 billion yen last week, finance ministry data showed. ($1 = 105.2000 yen)

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

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