Jan 7 (Reuters) - Foreign investors turned net buyers of Japanese equities in the week ended Dec. 30 as investor risk appetite improved on hopes over the U.S. pandemic relief package and optimism that coronavirus vaccinations will quicken the global economic recovery.
Overseas investors were net buyers of stocks worth 67.19 billion Japanese yen ($650.25 million) last week after net sales of 176.47 billion yen in the previous week, data from Japanese exchanges showed.
They purchased 74.59 billion yen worth of derivatives last week but sold 7.4 billion yen in cash equities markets, the data showed.
Japanese equities benchmarks, the Nikkei share average jumped 2.9% last week and the Topix index gained 1.5%, both recording their biggest gains in five weeks.
Meanwhile, Japanese investors purchased overseas equities worth 159.9 billion yen last week, marking their first net buying in eight weeks, finance ministry data showed.
Last year, foreigners sold 6.1 trillion yen worth Japanese equities, which included 2.74 trillion yen worth of derivatives and 3.36 trillion yen in cash markets.
($1 = 103.3300 yen)
Reporting by Gaurav Dogra and Patturaja Murugaboopathy; editing by Jason Neely