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Foreigners turn net sellers of Japanese stocks in the week ended May 10

Kitco News

May 16 (Reuters) - Foreign investors turned net sellers of Japanese stocks in the week ended May 10 as an escalation of trade dispute between the United States and China prompted money outflows from the local markets.


Overseas investors sold a net 850.5 billion yen ($7.77 billion) worth of Japanese stocks, including cash equities and futures in that week, their biggest weekly net selling in five weeks, data from Japanese stock exchanges showed.


Foreigners sold a net 19.1 billion yen in cash markets and
831.4 billion yen in derivative markets, the data showed.


Japan's major indexes, the Nikkei index and the Topix index , both shed more than 4% in the holiday-shortened week that ended May 10.


On May 10, the United States raised tariffs on $200 billion worth of Chinese imports to 25% from 10%, ratcheting up tensions between the world's two biggest economies, which prompted global investors to cut their holdings in risk assets. On the other hand, Japanese investors bought 123.8 billion yen worth of overseas equities in the week ended May 10, their first weekly net buying in five weeks, the Ministry of Finance data showed.


($1 = 109.4600 yen)


(Reporting by Gaurav Dogra and Patturaja Murugaboopathy; Editing by Richard Borsuk)

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