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Local Investors Dump Offshore Bonds

JAPAN DATA

Japan weekly investment flows saw offshore investors retreat once again from local equities. There was -¥990.6bn in fresh outflows. This was the 2nd consecutive week of outflows after last week ended a 9 week run of inflows. Offshore investors returned to buying local bonds (+¥621.6bn), although this wasn't enough to offset last week's outflow. Since the start of Nov though, net inflows into this space have been positive.

  • In terms of Japan outbound flows, local investors were heavy net sellers of offshore bonds (-¥1080bn). This was the largest weekly outflow since Oct last year.
  • Local investors also sold offshore equities for the 3rd straight week (-¥500.8bn).

Fig 1: Japan Weekly Investment Flows

Billion YenWeek ending Dec 8Prior Week
Foreign Buying Japan Stocks -990.6-357.2
Foreign Buying Japan Bonds 621.6-717.5
Japan Buying Foreign Bonds-1080.046.3
Japan Buying Foreign Stocks-500.8-558.3

Source: MNI - Market News/Bloomberg

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