JAPAN DATA: Offshore Investors Sell Local Equities For 2nd Straight Week**

**Corrected date on table below

Last week saw offshore investors continue to sell local stocks. This was the second straight weekly outflow and comes after a strong run of inflows going back to the last week of September. Price action in terms of Japan stocks was weaker through to end Nov, but has improved since the start of Dec. 

• Offshore investors were modest buyers of local bonds, but this only partially reversed the prior week's outflow. The trend on such flows has been mixed in recent months.
• In terms of outbound flows from Japan, we saw local investors buying overseas bonds. This more than offset the prior's week net selling. Still, the trend on such flows has been to sell, with higher US yields crimping global bond returns in recent months.
• Local investors sold offshore equities for the second straight week. 

Table 1: Japan Weekly Offshore Investment Flows 

Source: MNI - Market News/Bloomberg