Net selling of Japanese cash stocks by foreign investors hit a near four-month high during the week of January 4-8, as they unloaded risky assets after being spooked by tumbling oil prices and a weaker yuan, exchange data showed. Foreigners sold a total of 447 billion yen worth of Japanese cash stocks on a net basis during the week, the largest amount since mid-September, data released by the Japan Exchange Group on Friday showed.
Back in September, foreign investors were on edge due to worries about a slowdown in Chinese growth and the timing of a US interest rate increase, which eventually came in December. Last week saw huge volatility as the Nikkei share average tumbled 7 percent, making the new year the first since 1949 to open with five straight days of declines. The week was marked by sliding oil prices and worries over an economic slowdown in China and volatility stemming from instability in the yuan.
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