Foreign investors continued to shun Japanese cash stocks and futures last week, posting their biggest net selling in two months, indicating that the market may have entered a correction phase after big rallies in the last month. Foreigners, who were net sellers for the past two weeks, sold a total of 1.063 trillion yen ($9.87 billion) worth of Japanese stocks and futures during the week of September 29-October 3, the biggest weekly selling since the first week of August, data from the Tokyo Stock Exchange showed.
In the cash market, foreign investors were net sellers in the last week for the first time in six weeks. They sold a total of 194.8 billion yen. Retail investors and trust banks, which manage corporate pension trusts and national pension fund trusts, were net buyers.