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Offshore & Local Investors Continue To Sell Bonds

JAPAN DATA

Japan offshore investment flows were mixed in the final week of June. Offshore investors continued to sell local bonds, albeit at a reduced pace compared to the prior week, see the table below. The trend remains for outflows form this space. We saw net outflows in 3 out of 4 weeks in June, while Q2 as a whole saw
-¥3233bn in net outflows. Expectations around higher BoJ tapering bond buying plans may be headwinds for flows in this space.

  • Offshore investors purchased local equities to the tune of ¥185.3bn. Net flows for the whole of June were still negative though.
  • In terms of Japan outbound flows, we saw local investors continue to sell offshore bonds. June as a whole saw firm selling in this segment and this was the general trend through Q2.
  • On the equity front, local investors sold offshore equities last week.

Table 1: Japan Weekly Investment Flows

Billion YenWeek ending June 28Prior Week
Foreign Buying Japan Stocks 185.3-85.4
Foreign Buying Japan Bonds -130.9-1606.1
Japan Buying Foreign Bonds-254.4-1062
Japan Buying Foreign Stocks-488.8119.3

Source: MNI - Market News/Bloomberg

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