Japanese investors sold a net ¥92.6 billion in foreign long-term bonds in the week ended Oct 24, finance ministry data shows.
Key takeaways
Japanese investors continued selling foreign long-term bonds for a sixth consecutive week, though the net amount was the lowest in six weeks. Simultaneously, they reversed course to buy foreign short-term bills and increased net purchases of foreign equities.
- Net sales of foreign long-term bonds reached ¥92.6 billion, the smallest weekly figure in six weeks.
- Japanese investors bought a net ¥235.3 billion in foreign short-term bills, reversing prior sales.
- Foreign inflows into Japanese stocks totaled ¥1.18 trillion, reversing the previous week's outflows.
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The Nikkei index’s low last week of 61,462.61 held just above its 200-day exponential moving average of around 61,367. (EPA Images pic)TOKYO: Japanese investors withdrew funds from foreign long-term bonds for a sixth consecutive week through Oct 24, though the recent drop in Treasury yields from around 24-1/2-year highs slowed the pace of selling.
They sold a net ¥92.6 billion (US$586.56 million) of foreign long-term bonds during the week, their smallest weekly net sales in six weeks, while buying a net ¥235.3 billion in short-term bills, reversing net sales of ¥136.9 billion the previous week, finance ministry data showed.
The benchmark 10-year US Treasury yield, which hit a 24-1/2-year high of 5.3645% earlier this month, has since fallen about 37.2 basis points.
