Foreigners net sellers of Japanese stocks for third straight week

March 11 (Reuters) - Foreign investors sold Japanese equities last week for a third straight week as a rise in U.S. Treasury yields prompted investors to move away from risky assets.

Data from Japanese exchanges showed foreigners were net sellers of stocks worth 264.72 billion yen ($2.43 billion) in the week ended March 5.

They sold a net 306.46 billion yen worth of derivatives, but purchased 41.74 billion yen in cash equities markets.

Last week, the U.S. 10-year Treasury yield hit a 1-year high, after February payroll report was stronger than expected and stoked inflation concerns.

The rise in yields especially hit the growth sectors such technology in Japan, with some leading tech players such as Softbank Group and Tokyo Electron seeing big declines last week.

Both Japanese equities benchmarks, the Topix index and the Nikkei share average hit a 1-month low last week. However, the Topix index recovered later and gained 1.7% for the week, while, the Nikkei share average dropped 0.4%.

Both indexes have gained over 1% this week as Japanese central bank governor’s remarks on keeping borrowing costs low and a tepid U.S. inflation in February, eased some concerns about inflation and rising yields.

Meanwhile, Japanese investors purchased overseas equities worth 176.6 billion yen last week, marking their first net buying in eight weeks, finance ministry data showed. ($1 = 108.8000 yen)

Reporting by Gaurav Dogra and Patturaja Murugaboopathy;