👀 Look into Bill Gates' portfolio to find hidden gems with new 13F filingsExplore for FREE

Japanese stocks log biggest weekly foreign inflow in nearly six months

Published 07/11/2024, 04:13 AM
Updated 07/11/2024, 04:17 AM
© Reuters. FILE PHOTO: TV crews talk in front of  a large screen showing stock prices at the Tokyo Stock Exchange in Tokyo, Japan October 2, 2020. REUTERS/Kim Kyung-Hoon/File Photo
JP225
-
TOPX
-
6857
-
9984
-

(Reuters) - Foreign investors made hefty investments in Japanese stocks in the week ended July 5, driven by a market rally and optimism over the outlook for solid corporate earnings in the second half of the year.

According to exchange data, overseas investors bought Japanese stocks worth a net 916.05 billion yen ($5.67 billion) last week, their biggest weekly net purchase since Jan. 12.

Investors snapped up derivative contracts of around 732.36 billion yen while securing cash equities of about 183.69 billion yen on a net basis.

The Nikkei share average jumped 3.36% last week, registering its best weekly gain since March 22. The broader Topix index advanced 2.65%.

The Nikkei hit an all-time high on Thursday, crossing 42,000 points for the first time, and the Topix index hit a record closing high of 2,929.17.

Gains in U.S. megacap growth stocks last week also lifted Japanese technology shares, with SoftBank (TYO:9984) Group soaring 8.04% and semiconductor testing equipment maker Advantest rising 3.2%.

Conversely, overseas investors pulled back from Japanese bonds for a fourth consecutive week, selling long-term bonds worth a net 228.8 billion yen and short-term instruments totalling 876.9 billion yen, Ministry of Finance data showed.

Meanwhile, Japanese investors snapped a two-week selling streak in overseas debt markets last week. They secured long-term foreign bonds of a net 237.7 billion yen and short-term securities of about 96.6 billion yen.

© Reuters. FILE PHOTO: TV crews talk in front of  a large screen showing stock prices at the Tokyo Stock Exchange in Tokyo, Japan October 2, 2020. REUTERS/Kim Kyung-Hoon/File Photo

Japanese investors, meanwhile, withdrew a net 555.6 billion yen out of foreign equities, which was their largest weekly net disposal since May 31.

($1 = 161.6200 yen)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.