Foreigners net sellers of Japanese stocks for third straight week

Feb 4 (Reuters) - Foreign investors remained net sellers of Japanese equities last week, as some delays in distribution of coronavirus vaccines in the United States and Europe prompted investors to book some profits and rebalance their portfolio.

Data from Japanese exchanges showed foreigners were net sellers of stocks worth 305.32 billion yen ($2.90 billion) for the week ended Jan. 29.

They sold 230.47 billion yen worth of derivatives and 74.85 billion yen in cash equities markets.

Worries about delays in distribution of coronavirus vaccines hit sentiments last week as United States struggled to ramp up vaccinations while European countries faced delays from suppliers.

Last week, the Nikkei share average fell 3.4%, marking its biggest weekly fall since July 2020, while the Topix index shed 2.6%.

Both the indexes have gained over 2% this week as many domestic companies such as Panasonic and Toto, raised their earnings forecasts.

Meanwhile, Japanese investors sold overseas equities worth 569.2 billion yen last week, the biggest in six weeks, finance ministry data showed. ($1 = 105.1600 yen)

Reporting by Gaurav Dogra and Patturaja Murugaboopathy; editing by Uttaresh.V