Japanese stocks see foreign selling after three weeks of inflows

Nov 25 (Reuters) – Foreign investors sold Japanese
stocks last week, as they booked profits after buying them for
three consecutive weeks, with some weakness in growth and
technology stocks weighing on sentiment.

Weekly net foreign selling, however, stood at just 8.34
billion yen ($60.19 million) for the week ended Nov. 18,
compared with net purchases of 734.89 billion yen in the
previous week, data from exchanges showed.

Another big quarterly loss at SoftBank Group’s investment
arm Vision Fund weighed on investor appetite, while chip-related
stocks were also dragged down by announcement of a cut in
capital spending and chip supply by semiconductor firm Micron
Technology Inc.

Foreigners exited a net 16.96 billion yen in cash equities
but secured derivatives worth a net 8.62 billion yen.

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

The Nikkei share average lost 1.3% last week after
three weeks of gains in a row, while the Topix index
shed 0.54%.

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

Japanese investors, however, exited 466.4 billion yen worth
of overseas bonds last week, but obtained a net 46.9 billion yen
worth of foreign equities in their first weekly net buying since
Oct. 21.

($1 = 138.5700 yen)

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

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