Foreigners sell Japanese stocks for second straight week

June 17 (Reuters) - Foreign investors sold Japanese shares for a second straight week, hit by concerns over higher inflation levels and chances of an early tapering by the U.S. Federal Reserve.

Foreigners sold a net 16.53 billion yen ($149.38 million) worth of Japanese stocks in the week ended June 11, data from Japanese exchanges showed.

They sold a net 226.4 billion yen in cash equities markets, while purchased 209.87 billion yen worth of derivatives last week.

Last week, the U.S. Labor Department said the consumer price index in the 12 months ended May accelerated 5.0%, the biggest year-on-year increase since August 2008.

The U.S. central bank on Wednesday stunned investors by signalling it might raise interest rates at a much faster pace than assumed.

The outflows were also due to some concerns that Japan’s economic recovery might lag compared with the United States and other advanced nations, as the country grapples with a fourth wave of the pandemic.

Last week, the Nikkei share average marginally gained 0.03%, while the Topix index slipped 0.3%.

Japanese investors purchased overseas equities worth a net 105.3 billion yen and a net 442.8 billion yen worth of domestic bonds last week, finance ministry data showed. ($1 = 110.6600 yen)

Reporting by Gaurav Dogra and Patturaja Murugaboopathy; Editing by Rashmi Aich