The latest round of weekly Japanese...........>

JAPAN: The latest round of weekly Japanese international security flow data

showed that Japanese investors became net sellers of foreign bonds for the first

time in 4 weeks (and for only the second time in the last 13 sample weeks). This

has left the 4-week rolling of the sum measure just above flat levels. The last

time that the 4-week rolling sum of the metric was in negative territory was

back in late April.

- Japanese investors flipped to net buying of foreign stocks, meaning that last

week's net selling is unique over a 5-week horizon.

- Foreign investors were small net sellers of Japanese bonds for a second

consecutive week, and became small net buyers of Japanese equities for the first

time in 4 weeks.