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Foreigners turn net buyers of Japanese stocks ahead of corporate earnings

April 15 (Reuters) - Foreigners turned net buyers of Japanese stocks in the week ended April 9, bolstered by a rally in domestic semiconductor shares amid a global shortage of chips and on investor hopes of a strong corporate earnings season.

Overseas investors bought 575 million Japanese yen ($5.28 million) worth of stocks last week, after dumping them in the previous two weeks, data from Japanese exchanges showed on Thursday.

They bought a net 140.3 million yen worth of derivatives and 435 million yen in cash equity markets.

Investor expectations that Japanese companies will post solid second-quarter numbers and strong U.S. jobs data prompted overseas investors to take higher risks and purchase Japanese stocks.

Shares related to semi-conductor companies such as Advantest and Tokyo Electron climbed as the industry looked set to boost manufacturing amid a global shortage of chips.

But, Japanese shares have posted losses this week over a resurgence in domestic COVID-19 cases that cast doubts over a potential economic rebound.

Meanwhile, Japanese investors net sold $623 billion worth of overseas equities last week, their fifth consecutive weekly sales.

($1 = 108.8500 yen)

Reporting By Patturaja Murugaboopathy, Editing by Sherry Jacob-Phillips

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