Foreigners were net sellers of Japanese stocks in the week ended on Feb 8, for the second consecutive week, as fuelled by renewed worries about the US-China trade dispute and dismal earnings from Japanese companies. Overseas investors sold a net 63.9 billion yen ($578.86 million) worth of Japanese stocks, including cash equities and futures in the last week, data from Japanese stocks exchanges showed.
Foreigners bought 89.6 billion yen in derivative markets, and sold 153.6 billion yen in cash markets, the data showed. Last week, US President Donald Trump said he did not plan to meet Chinese President Xi Jinping before the March 1 deadline set by the two countries for reaching an agreement, which undermined risk appetites.
The Nikkei index shed 2.1 percent in the last week, its biggest decline in 5 weeks. The Topix index fell 1.6 percent, its biggest drop in 7 weeks. Refinitiv data showed 53 percent of Japanese companies have missed their consensus earnings estimates for the third quarter, which underscored a lackluster earnings season.