2023-07-13 07:44:07
Foreign investors net bought Japanese stocks last week for the first time in four weeks. Individual investors turned net buying, but Japanese stocks plunged as investment trusts and trust banks sold.
In the first week of July (3rd to 7th), overseas investors bought a net of 57 billion yen in spot and futures combined. Overseas investors, who had been net buyers for 10 consecutive weeks since April and led the rise in stock prices, turned to sell from mid-June, but turned to net buyers once more. The domestic group of individuals and corporations (excluding business corporations) became net buyers for the first time since the fourth week of March. Investment trusts and trust banks stand out as net sellers.
Trading status by investment sector (announced on the 13th of the Japan Exchange Group) Net buying of 31.4 billion yen in overseas spot products for 2 consecutive weeks, net buying of 25.7 billion yen in futures for the first time in 2 weeks, and net buying of 368.7 billion yen in individual spot products for the first time in 4 weeks with a net buying of 57 billion yen in total. 86.1 billion yen net purchase for the first time in two weeks, net selling of 194.4 billion yen in investment trusts for the first time in two weeks (net purchase of 77.2 billion yen in the previous week) net selling of 38.7 billion yen in trust bank spot (net selling of 133.1 billion yen in the previous week)
This week, it seems that there was a liquidation sale to pay the dividend due to the settlement of accounts of exchange traded funds (ETF) around the 7th. Investment trusts turned into large net selling, and trust banks also continued to sell. As a result, the Tokyo Stock Price Index (TOPIX) fell 1.5%.
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Yutaka Miura, a senior technical analyst at Mizuho Securities’ equity research department, pointed out that “selling is likely to continue,” citing pension funds and cross-shareholding transactions at trust banks. He also said that overseas investors, especially short-term investors, would “easily close out” of selling the yen and buying stocks during a period of strong yen. Individuals are basically contrarian, buying dips and selling back, he explained.
Pedestrian staring at the stock market board
Photographer: Akio Kon/Bloomberg
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