The fall of Japanese yen has been accompanied by the rise of the Nikkei Index. Data from the Ministry of Finance might be a warning sign that foreign investors are starting to doubt the sustainability of the Bank of Japan’s plan and could cool down the local stock market.
The fall in the yen helped Japanese companies during their earnings report. Nintendo had a less than stellar quarter after their mobile console failed to take off, but the current yen levels contained the backlash.
Chatter over whether Japan’s soaring stock markets are due for a correction gained momentum after data on Thursday revealed that foreign investors, who have been huge buyers of Japanese equities in recent months, became net sellers in the past week.
According to data from the Ministry of Finance, foreign investors were net sellers of Japanese equities in the week through to April 20, with a net outflow of 27.9 billion yen ($281 million) after they bought 1.57 trillion yen of stocks in the previous week.
via CNBC
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