Foreigners turned sellers of Japan shares after 12-week bullish streak

“Foreign investors turned net sellers of Japanese equities after 12 straight weeks of purchases that helped propel shares to three-decade highs,” reported Reuters while citing the Japanese Finance Ministry data.

“Foreigners sold net shares worth 543.8 billion yen ($3.77 billion) in the week through June 24,” said the news.

Reuters also adds that the overseas investors had been net buyers of Japanese stocks every week since the end of March, snapping up a cumulative 9.9 trillion yen in equities.

Nikkei retreats from weekly top

Following the news, Japan’s benchmark equity index Nikkei 225 retreats from intraday top but stays 0.60% up on a day to 33,410 by the press time.

Also read: USD/JPY retreats towards 144.00 as Japan Retail Trade tests BoJ’s dovish bias, Fed’s Powell eyed