Foreign investors bought the largest amount of Japanese stocks in five months last week as concern over higher US interest rates eased and some blue-chip companies boosted their earnings outlooks.
They bought net ¥1.1 trillion ($7.27 billion) of cash equities and futures, data from Japan Exchange Group Inc. showed. It’s the biggest inflow since the week ended June 9. Shares gained last week after US jobless claims figures pointed to a softening in the labor market, and as companies including Nintendo Co. and Tokyo Electron Ltd. increased their profit forecasts.
Overseas funds turned net sellers in recent months, taking profit from one of the top performing markets as stocks fell globally on concern over rising yields and a tech selloff.
