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JAPAN DATA: Offshore Buying Streak Of Japan Equities Ends

JAPAN DATA
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Japan weekly outbound and inbound investment flows were negative across the board last week. In terms of offshore inflows into Japan assets, the 8 consecutive week of flows into local stocks ended. We had -¥446bn in net outflows. Offshore investors also sold local bonds, albeit only partially reversing the prior week's strong inflow. This continues the see-saw pattern of flows for this segment. Uncertainty around the BoJ outlook may be influencing such trends, with the past week seeing pricing for a Dec hike rise. 

  • In terms of Japan outbound flows. Japan investors sold offshore bonds for the second straight week. The trend here is clearer, with net outflows mostly dominating, as US firmer bond yields crimp global bond returns.
  • For offshore equities, local investors continued to sell down holdings. This has also been the main theme of recent months.  

Table 1: Japan Weekly Investment Flows

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Japan weekly outbound and inbound investment flows were negative across the board last week. In terms of offshore inflows into Japan assets, the 8 consecutive week of flows into local stocks ended. We had -¥446bn in net outflows. Offshore investors also sold local bonds, albeit only partially reversing the prior week's strong inflow. This continues the see-saw pattern of flows for this segment. Uncertainty around the BoJ outlook may be influencing such trends, with the past week seeing pricing for a Dec hike rise. 

  • In terms of Japan outbound flows. Japan investors sold offshore bonds for the second straight week. The trend here is clearer, with net outflows mostly dominating, as US firmer bond yields crimp global bond returns.
  • For offshore equities, local investors continued to sell down holdings. This has also been the main theme of recent months.  

Table 1: Japan Weekly Investment Flows

Keep reading...Show less