Foreigners become net buyers of Japanese stocks in the week to May 28


June 3 (Reuters) – Foreign investors turned net buyers of Japanese stocks for the first time in three weeks, for the week through May 28, as a resumption of domestic vaccinations raised hopes for normalization faster economic.

Foreigners bought 555.52 billion yen ($ 5.06 billion) net of Japanese stocks, the largest in seven weeks, according to Japanese stock exchange data.

They bought a net amount of 373.82 billion yen in spot equity markets and 181.7 billion yen in derivatives last week.

Meanwhile, cross-border investors bought 1,100 billion yen net of Japanese bonds, according to data from the Ministry of Finance.

A massive vaccination program began in Tokyo and Osaka last month, prompting optimism about the earnings outlook for companies.

Japanese stocks have stagnated for the past three months, affected by a slow rollout of COVID-19 vaccines, cautious earnings outlook and the effective reduction in its share purchases by the Bank of Japan (BOJ).

Last week, the Nikkei stock average gained 2.94% and the Topix index rose 2.24%.

Meanwhile, Japanese investors bought foreign stocks with a net worth of 129.4 billion yen and sold 1.19 trillion yen of Japanese bonds last week, according to data from the Ministry of Finance. ($ 1 = 109,7700 yen)

Reporting by Gaurav Dogra and Patturaja Murugaboopathy; edited by Uttaresh.V

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