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Foreigners turn net buyers of Japanese equities in week ended Dec. 11

Dec 17 (Reuters) - Foreign investors were net buyers of Japanese equities for the week that ended on Dec. 11, on optimism around the development of a COVID-19 vaccine and hopes of a faster economic recovery.

Overseas investors were net buyers of stocks worth 235.8 billion Japanese yen ($2.29 billion) for the week that ended on Dec. 11, data from Japanese exchanges showed.

They bought 255.7 billion yen in cash equities markets, but sold 19.8 billion yen worth of derivatives, the data showed.

However, the Nikkei share average dropped 0.4% last week on concerns over higher COVID-19 cases in Japan and the uncertainty over U.S. stimulus.

Meanwhile, Japanese investors sold overseas equities worth 585 billion yen last week, marking a fifth straight week of net selling, finance ministry data showed.

($1 = 103.1600 yen)

Reporting By Patturaja Murugaboopathy; editing by Uttaresh.V

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