JAPANESE STOCKS SEE BIGGEST WEEKLY FOREIGN OUTFLOW IN 10 MONTHS

Japanese stocks witnessed heavy foreign outflows in the week to July 26, as a strengthening yen and a sell-off in global technology stocks dampened investor sentiment. Foreign investors net sold Japanese shares worth 1.58 trillion yen ($10.53 billion) in the week, according to exchange data, the largest outflow since the week ended Sept. 29, 2023.

Foreign investors sold derivative contracts worth approximately 1.01 trillion yen in their largest weekly net selling since Oct. 6, 2023. They also divested cash equities of about 1.58 trillion yen. The Topix index lost 5.64% last week, its steepest weekly decline since March 2020, amid a sell-off in technology shares and a sharp rise in the yen, which raised concerns about the profit outlook for exporters. The Nikkei share average slipped 5.98%.

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