Foreigners turn net sellers of Japanese stocks

Foreign investors turned net sellers of Japanese equities in the week ended February 14 as sentiment took a hit because of weak domestic earnings and worries over the coronavirus outbreak. Overseas investors sold 95.17 billion yen ($853.54 million) worth of Japanese stocks, according to data from Japanese stock exchanges. It included an outflow of 45.7 billion yen worth in derivatives and 49.5 billion yen in cash markets.

Amid a fast-spreading virus in the region, Japan reported its first fatality last week. On Thursday, two elderly coronavirus-infected passengers from a cruise ship moored near Tokyo died. The Nikkei index fell 0.6% and the Topix index slipped 1.7% in the week ended February 14. Subdued earnings by Japanese firms last week also dented sentiment.