TOKYO, April 3 — Foreigners sold Japanese stocks for the ninth straight week through March 29, the longest selling run in three years, amid concerns that US reciprocal tariffs could disrupt exports.
US President Trump announced a higher-than-expected 24 per cent tariff on Japanese goods yesterday, while a previously imposed 25 per cent tariff on auto imports will take effect as planned on April 3 in a major blow to the Japanese auto industry.
Foreigners sold Japanese stocks worth ¥450.4 billion (RM13.6 billion) on a net basis for the week, according to data from Japan’s Ministry of Finance.
In the nine straight weeks of net selling that began on January 26, foreigners have withdrawn ¥6.47 trillion compared with just ¥3.89 trillion worth of total net withdrawals in the week through March 26, 2022, the last nine-week-long selling streak.
The Nikkei tumbled as much as 4.6 per cent to an eight-month low of 34,102.00 on the day, with analysts warning of further pressure as a stronger yen, driven by safe-haven demand, threatened to weigh on exports.
Foreign investors also ditched Japanese bonds in the week ended March 29, as they shed long-term bonds worth ¥489.7 billion and short-term bills of ¥155.8 billion.
Meanwhile, Japanese investors net bought foreign stocks worth ¥583.2 billion, marking the sixth weekly net purchase in seven weeks.
However, they sold foreign debt, for the second successive week, worth about ¥214.9 billion. — Reuters
