Economic news

Relieved foreigners scoop up Japanese stocks as markets rebound

2024.08.16 01:08

(Reuters) – Foreign investors heavily bought into Japanese stocks in the week to Aug. 10, encouraged by policymakers’ signals to stabilize the market following recent turmoil which had sent shares into their biggest one-day plunge since 1987.

Cross-border investors bought a net 521.9 billion yen ($3.51 billion) of Japanese shares in the week, reversing three consecutive weeks of net selling, according to finance ministry data.

Last week, Japanese policymakers signalled action to prevent further declines in the stock market, while the Bank of Japan indicated it would keep rates steady amid market instability, following a historic 12.4% drop in the share average on Aug. 5 on fears of a recession in the U.S. and the unwinding of carry trades funding with cheap yen.

But those worries quickly faded and the Nikkei share average has surged over 20% since reaching a nine-month low of 31,156.12 on Aug. 5.

Foreigners also reversed an eight-week Japan bond selling trend last week, becoming net buyers. They acquired a net 1.44 trillion yen in long-term bonds, the largest amount since May 11, and a net 561.8 billion yen in short-term securities.

Japanese investors bought 1.54 trillion yen worth of long-term overseas bonds last week, marking the largest weekly net purchase in 12 weeks, and also acquired short-term instruments totalling a net 453.5 billion yen.

© Reuters. FILE PHOTO: A man stands next to an electronic stock quotation board inside a building in Tokyo, Japan August 2, 2024. REUTERS/Issei Kato/File Photo

Japanese investors, however, shed foreign shares worth a net 328.1 billion yen after three weeks of net purchases in a row.

($1 = 148.9000 yen)



Source link

Related Articles

Back to top button
bitcoin
Bitcoin (BTC) $ 82,063.99 2.18%
ethereum
Ethereum (ETH) $ 1,887.58 0.31%
tether
Tether (USDT) $ 0.999958 0.00%
xrp
XRP (XRP) $ 2.29 2.10%
bnb
BNB (BNB) $ 581.60 0.97%
solana
Solana (SOL) $ 124.55 0.86%
usd-coin
USDC (USDC) $ 1.00 0.00%
cardano
Cardano (ADA) $ 0.706819 3.00%
dogecoin
Dogecoin (DOGE) $ 0.167997 1.75%
tron
TRON (TRX) $ 0.225413 1.39%
staked-ether
Lido Staked Ether (STETH) $ 1,884.58 0.11%
lombard-staked-btc
Lombard Staked BTC (LBTC) $ 82,872.20 0.10%
pi-network
Pi Network (PI) $ 1.65 1.97%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 81,738.90 2.35%
leo-token
LEO Token (LEO) $ 9.72 0.07%
chainlink
Chainlink (LINK) $ 13.30 0.35%
stellar
Stellar (XLM) $ 0.273517 3.42%
usds
USDS (USDS) $ 1.00 0.00%
hedera-hashgraph
Hedera (HBAR) $ 0.190207 4.37%
wrapped-steth
Wrapped stETH (WSTETH) $ 2,262.03 0.04%
avalanche-2
Avalanche (AVAX) $ 18.82 1.16%
shiba-inu
Shiba Inu (SHIB) $ 0.000012 0.35%
the-open-network
Toncoin (TON) $ 2.82 3.26%
sui
Sui (SUI) $ 2.17 5.42%
litecoin
Litecoin (LTC) $ 89.08 1.85%
bitcoin-cash
Bitcoin Cash (BCH) $ 328.18 5.48%
mantra-dao
MANTRA (OM) $ 6.28 2.87%
polkadot
Polkadot (DOT) $ 4.04 1.31%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.08%
weth
WETH (WETH) $ 1,887.04 0.31%
binance-bridged-usdt-bnb-smart-chain
Binance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 0.998699 0.23%
bitget-token
Bitget Token (BGB) $ 4.21 0.52%
hyperliquid
Hyperliquid (HYPE) $ 12.86 3.57%
whitebit
WhiteBIT Coin (WBT) $ 28.19 1.73%
wrapped-eeth
Wrapped eETH (WEETH) $ 2,004.69 0.13%
monero
Monero (XMR) $ 207.70 1.06%
uniswap
Uniswap (UNI) $ 5.92 0.34%
susds
sUSDS (SUSDS) $ 1.04 0.05%
dai
Dai (DAI) $ 0.999839 0.00%
near
NEAR Protocol (NEAR) $ 2.66 3.18%
aptos
Aptos (APT) $ 5.18 1.24%
pepe
Pepe (PEPE) $ 0.000007 6.67%
ethereum-classic
Ethereum Classic (ETC) $ 17.98 0.80%
ondo-finance
Ondo (ONDO) $ 0.838553 3.42%
internet-computer
Internet Computer (ICP) $ 5.50 0.27%
okb
OKB (OKB) $ 41.98 1.22%
gatechain-token
Gate (GT) $ 20.55 1.04%
aave
Aave (AAVE) $ 166.11 3.80%
coinbase-wrapped-btc
Coinbase Wrapped BTC (CBBTC) $ 82,007.97 2.28%
mantle
Mantle (MNT) $ 0.729826 2.73%