Global Funds Double Sales of Japan Stocks to Most Since 2019

📆 9/22/2023 6:28 AM
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(Bloomberg) -- Foreign investors sold the most Japanese equities since March 2019 last week as the Topix index reached a fresh multi-decade high. Most Read from BloombergEx-Goldman Bankers Make a Fortune With Controversial Bet on CoalIndia Suspends Visas, Canada Pulls Diplomats Amid TensionsMcCarthy Ambushed as Republican Hardliners Change Course on Spending PlanWall Street Trading Roiled by ‘Post-Fed Hangover’: Markets Wrap‘Dead Space’ Co-Creator Departs Startup After Newest Game FlopsThey offl

They offloaded a net ¥1.58 trillion of stocks, almost double the amount the previous week, data from the Ministry of Finance showed.

Overseas buyers dumped Japanese equities as the benchmark Topix index reached the highest since 1990. Some major global investors, including Warren Buffett became more bullish earlier this year, helping kick off a rally amid signs that inflation will take hold and optimism about corporate governance reforms.

The prospect of higher interest rates stands to help financials though by boosting profits from lending, and energy companies are also benefiting from rising oil prices.

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Global Funds Double Sales of Japanese Stocks to Most Since 2019Foreign investors sold the most Japanese equities since March 2019 last week as the Topix index reached a fresh multi-decade high.
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