August 14, 2014 / 9:00 AM / in 5 years

CORRECTED-Foreign investors sell record amount of Japan stock futures last week

(Corrects figure in paragraph 5 to 457.1 billion yen, not
    TOKYO, Aug 14 (Reuters) - Foreign investors sold a record
amount of Japanese stock futures last week, when fears that
violence in Ukraine and the Middle East could disrupt global
growth pushed the country's share prices to two-month lows,
exchange data showed on Thursday.
    Foreign investors sold a net 813.1 billion yen ($7.94
billion) in futures, such as Nikkei futures <0#JNI:> and Topix
futures <0#JTI:>, data from Osaka Securities Exchange showed.
    That was their largest net selling since the exchange
started publishing data in 2005, said Jun Yunoki, strategist at
Nomura Securities. 
    "Sanctions on Russia, and growing evidence of damage to
European economies, U.S. air strikes on Iraq and a breakout of
the Ebola disease. All these things conjured up a sense of fear
and prompted hedge-selling in the futures," said Yunoki said.
    In addition, foreign investors also sold 457.1 billion yen
in cash stocks in the same week, which was their largest net
selling since the week of March 10-14, separate data from the
Tokyo Stock Exchange showed.
    The Nikkei share average fell 4.8 percent last week,
the biggest fall since early April.
    Buying by foreign investors was the main driving force of
the Japanese share rally last year, when the Nikkei rose 57
percent on hopes of a strong economic recovery as Prime Minister
Shinzo Abe took aggressive stimulus.
    But foreign investors have turned cautious this year as they
look for more evidence of recovery and as the Bank of Japan has
signalled it has no intention of adopting additional easing
steps any time soon.
 ($1=102.4300 Japanese yen)

 (Reporting by Hideyuki Sano and Tomo Uetake; Editing by
Jacqueline Wong)
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