(Bloomberg) -- Foreign investors offloaded Japanese equities for a second week, the most since last September, as the stronger yen weighed on the market and as tech shares slumped amid global rotation out of the sector.
They sold net ¥1.56 trillion ($10.4 billion) cash equities and futures combined in the week that ended July 26, according to data from Japan Exchange Group Inc. The nation’s benchmark Topix index tumbled more than 5% during that period, the most in four years.
The yen meanwhile gained more than 2% against the dollar, making it the best performer among major currencies. That dragged the country’s exporters shares like automakers as stronger yen weighs on their earnings.
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