Foreign investors sold the most Japanese equities since March 2019 last week as the Topix index reached a fresh multi-decade high.
They offloaded a net ¥1.58 trillion ($10.7 billion) of stocks, almost double the amount the previous week, data from the Ministry of Finance showed.
“Investors who bought Japanese stocks from the beginning are taking profit,” amid concerns about interest rates moving higher, said Ikuo Mitsui, a fund manager at Aizawa Securities Co. “Globally, there’s a move to slightly lower risk-weighted assets.”
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