(Reuters) - Foreign selling of Japanese stocks picked up in June from May, posting the second straight month of net outflows, as an escalation in Sino-U.S. trade tensions raised concerns about the earnings outlook for local firms.
Overseas investors sold a net 780 billion yen ($7.06 billion) of Japanese stocks, including cash equities and futures in the last month, data compiled from Japanese stock exchanges showed.
For graphic on foreign flows into Japanese stocks & futures - monthly click https://reut.rs/2NtvRHn
For graphic on foreign flows into Japanese stocks & futures - weekly click https://reut.rs/2J5a85d
After buying heavily in the first half of the month, foreigners turned net sellers as the Trump administration announced new tariffs on imported goods from China.
The Topix index (TOPX) rose more than 2 percent in the first half of June but ended the month 0.9 percent lower.
The United States imposed tariffs on $34 billion in Chinese imports on Friday and Beijing released reciprocal measures.
Investors were also cautious about a U.S. security investigation into car and truck imports launched in May. New tariffs on auto imports could raise costs for Japanese automakers doing business in the United States.
Japanese investors bought 985 billion yen ($8.92 billion)worth of overseas stocks in the week ended June 30, data from Ministry of Finance showed.
For graphic on JP investments into overseas assets click https://reut.rs/2NxTVsy