Japanese stocks log biggest weekly foreign inflow in nearly six months

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 PhotoForeign 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.

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 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. 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.

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