Japanese stocks sell overseas after three weeks of inflows

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Overseas investors sold Japanese stocks last week as they posted profits after buying them for three straight weeks, with some weakness in growth and technology stocks weighing on sentiment.

Weekly net overseas sales, however, amounted to just 8.34 billion yen ($60.19 million) for the week ended Nov. 18, compared to net purchases of 734.89 billion yen the previous week, according to exchange data.

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Another big quarterly loss from SoftBank Group’s investment arm, Vision Fund, weighed on investors’ appetites, while chip-related stocks were also dragged lower by news of a cut in capital expenditures and chip sourcing by semiconductor company Micron Technology Inc.

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The foreigners took out a net amount of 16.96 billion yen in shares in cash, but guaranteed derivatives with a net worth of 8.62 billion yen.

Foreigners are net sellers of 3.35 trillion yen of Japanese stocks so far this year, the data shows.

The Nikkei stock average lost 1.3% last week after three weeks of consecutive gains, while the Topix index lost 0.54%.

Meanwhile, non-native investors bought 5.77 trillion yen net worth of Japanese bonds last week, marking their biggest weekly net purchase since January 2021.

Japanese investors, however, sold 466.4 billion yen worth of foreign bonds last week, but secured a net 46.9 billion yen worth of foreign stocks in their first weekly net purchase since May 21. october.

($1 = 138.5700 yen)

(Reporting by Gaurav Dogra and Patturaja Murugaboopathy in Bengaluru; Editing by Rashmi Aich)


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