Foreign investors sold Japan stocks for first time in 12 weeks
Foreign investors were net sellers of Japanese stocks last week for the first time since March, according to data from the Finance Ministry.
They sold a net ¥524.3 billion ($3.62 billion) of the shares in the period ended June 20, the data showed Thursday. In the 11 weeks prior to that, the investors bought ¥7.236 trillion of Japanese stocks in total despite concerns about U.S. tariffs.
"The market has risen even as the earnings aren't that strong. So the market's valuation has become a bit rich,' said Hiroshi Matsumoto, senior client portfolio manager at Pictet Asset Management Japan.
The ministry's data is based on reporting from major market players and covers not just stocks but also ETFs and over-the-counter (OTC) trades.
Separate data from the Tokyo Stock Exchange, which covers just listed stocks, has also shown foreign investors have been buying Japanese stocks for 11 weeks.
Many market players suspect the continued inflow likely reflects global investors' rotation out of U.S. stocks.
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