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Foreigners net sellers of Japanese stocks for fourth straight week

(Reuters) - Foreign investors remained net sellers of Japanese equities last week on concerns over a slow global economic recovery, with data on U.S. economic activity showing a sedate progress.

FILE PHOTO: Passersby wearing protective face masks are reflected on a stock quotation board outside a brokerage, amid the coronavirus disease (COVID-19) outbreak, in Tokyo, Japan September 17, 2020. REUTERS/Issei Kato

Data from Japanese exchanges showed foreigners were net sellers of stocks worth 383.61 billion yen ($3.64 billion) for the week ended Sept. 25, the biggest in eight weeks.

They sold 184.79 billion yen in cash equities markets, and 198.82 billion yen in derivatives.

Graphic - Foreign flows into Japanese stocks:

Investors sought to limit exposures to downside risks as the global economic outlook darkened on rising COVID-19 infections in Europe as well as on uncertainties over the U.S. presidential election.

Last week, data showed that U.S. business activity cooled in September, dampening hopes about a recovery from the pandemic recession.

Japanese stock indexes, the Topix index .TOPX and the Nikkei share average .N225, both fell about 0.7% last week.

On the other hand, Japanese investors sold overseas equities worth a net 28.1 billion yen last week, marking a third successive week of net selling, finance ministry data showed.

Graphic - Japanese investments in stocks abroad:

Reporting by Gaurav Dogra and Patturaja Murugaboopathy; Editing by Toby Chopra

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