August 21, 2008

Foreigners Turn Net Buyers of Japan Stocks Last Week

Tokyo, Aug. 21 (Jiji Press)--Foreign investors turned net buyers of Japanese stocks last week for the first time in three weeks, the Tokyo Stock Exchange said Thursday.

In the Aug. 11-15 week, nonresidents posted net purchases of 109,677 million yen, against the prior week's selling excess of 104,207 million yen, according to the TSE report based on transactions via 61 brokerage firms on the Tokyo, Osaka and Nagoya exchanges.

Foreigners apparently moved to cover short positions on beaten- down issues, Yutaka Miura, equity manager at Shinko Securities Co., said. But nonresidents' overall trading volume declined since many were away for summer holidays, he noted.

The 225-issue Nikkei average last week lost 149 points, or 1.1 pct, to close at 13,019.41 on Friday.

Following is a breakdown of stock transactions by investment group in millions of yen:

(Aug. 11-15) (Aug. 4-8)

Sell Buy Net Net

Foreigners 4,553,051 4,662,728 109,677 -104,207 Individuals 1,334,051 1,349,981 15,929 -101,181 (Among Institutions)

Trust Banks 28,059

Other Banks -1,285

Investment Trusts 39,092

Note: The "-" mark means net sales.END

(c) 2008 Jiji Press English News Service. Provided by ProQuest LLC. All rights Reserved.