Foreigners buy Japanese stocks for third straight week

This post was originally published on link to post

Sept 12 (Reuters) – Foreigners bought Japanese stocks for a third straight week as risk appetite improved after the United States and China agreed to resume talks in a bid to end their tit-for-tat trade war.

Overseas investors purchased a net 469.5 billion yen ($4.35 billion) of Japanese stocks, including cash equities and futures, in the week ended Sept. 6, their biggest weekly net buying since mid-April, data from Japanese stock exchanges showed.

They bought a net 341.05 billion yen in derivative markets, and 128.47 billion yen in cash markets, data showed.

The United States and China agreed last week to hold high-level trade talks in early October, raising hopes that the two top global economies can de-escalate the tariff spat before it inflicts further damage on the global economy.

The Nikkei index rose 2.4% last week, while the Topix index gained 1.7%.

Meanwhile, Japanese investors sold 25.4 billion yen worth of overseas equities during the week, data from the Ministry of Finance showed. ($1 = 107.9900 yen)

Reporting by Gaurav Dogra and Patturaja Murugaboopathy; Editing by Subhranshu Sahu