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Foreign inflows into Japanese stocks slow on virus worries

April 22 (Reuters) - Foreign inflows into Japanese stocks slowed in the week ended April 16, on concerns about the economic slowdown due to a resurgence of coronavirus cases in Japan.

Overseas investors bought 27.4 billion Japanese yen ($253.73 million) worth of stocks last week, after purchasing 575 billion yen in the previous week, data from Japanese exchanges showed on Thursday.

They bought a net 58 billion yen worth of derivatives, but sold 31 billion yen in cash equity markets in the last week, the data showed.

Japanese shares have declined this week as investor fears about potential lockdowns in the country’s biggest cities cast doubts over the prospects of an economic reopening.

The Nikkei share average has tumbled 1.7% this week, after dropping 0.3% in the previous week. The broader Topix has fallen 2% this week, after its meagre gains of 0.1% last week.

Meanwhile, Japanese investors net sold 1.1 trillion yen worth of overseas equities last week, their biggest in five months, the data showed.

($1 = 107.9900 yen)

Reporting By Patturaja Murugaboopathy. Editing by Jane Merriman

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