Last week, the Nikkei Stock Average hit a new all-time high, set during the bubble period.
Overseas investors bought fewer Japanese stocks this week than they sold, marking the first time in eight weeks that they were net sellers.
According to a summary of the Tokyo Stock Exchange, during the week from the 19th to the 22nd of this month, the amount foreign investors bought stocks on the Tokyo and Nagoya stock exchanges was 78.6 billion yen less than the amount they sold, or 8 It was the first time in a week that we were sold.
Overseas investors have been net buying Japanese stocks for seven consecutive weeks since the beginning of this year, but last week it appears that sell orders intensified in an attempt to lock in profits.
On the other hand, domestic individual investors were net sellers for the second consecutive week, with the amount they bought stocks being 91.8 billion yen less than the amount they sold them.
On the 22nd of this month, the Nikkei Stock Average broke its all-time high, set in December 1989, for the first time in 34 years, and has remained at the 39,000 yen level since the beginning of this week.
A market source said, ``Overseas investors have been driving the rapid rise in stock prices since the beginning of the year, but I think they saw the timing of the Nikkei Stock Average hitting an all-time high and started selling to lock in profits.'' points out.