Japanese stocks saw the largest foreign inflow in four weeks during the week ending 14 June, driven by optimism over U.S.-China trade talks and a weaker yen supporting exporters’ earnings.
According to finance ministry data, foreign investors purchased a net 473.4 billion yen ($3.26 billion) worth of Japanese stocks last week, marking the 11th consecutive week of foreign inflows into Japan’s equity market. This quarter, cross-border inflows into Japanese equities have reached approximately 7.34 trillion yen, positioning the market for its largest quarterly foreign investment in two years.
The Nikkei index hit a four-month high of 38,885.15 amid hopes for corporate reforms.
Additionally, a recent Bank of America survey named Japan as the most favored market in Asia.
Amid rising tensions in the Middle East, demand for safe assets pushed foreign purchases of Japanese government bonds to 434.5 billion yen for long-term bonds and 1.03 billion yen for short-term bills, the highest in eight weeks.
Meanwhile, Japanese investors increased their purchases of long-term foreign bonds by 1.57 trillion yen, the largest weekly net buy since mid-May.
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Saudi civil defence sent an all-clear on Saturday after issuing alerts for a second time for potential danger in Riyadh and the city of Al-Kharj east of the capital, amid an uptick in attacks by Iran-aligned Houthis on the Gulf country.
Houthi attacks target Riyadh amid concerns over Saudi oil supplies, as Iran says it will not reopen the Strait of Hormuz until its conditions are met and U.S. commitments are implemented, parliament speaker Mohammad Bagher Ghalibaf said on Sunday.
The U.S. State Department approved a $2.7 billion military sale to Ukraine for air-defence development upgrades, along with related equipment and services, the department said. Meanwhile, Ukrainian authorities reported at least 10 people had died in Russian attacks over the last 24 hours.
The death toll from an overnight Russian attack on the Kyiv region rose to four, including three children, Kyiv regional authorities said on Sunday. A mother and her two 3-year-old children were killed when a Russian drone strike hit a private home, the emergency service said.
Russian authorities have reported attacks on voting systems and communication lines as the country’s parliamentary election entered its second day on Saturday (19 September).
Warren Buffett has stepped down as chairman of Berkshire Hathaway, marking the end of one of the most influential leadership tenures in corporate history and completing a succession process that has been years in the making.
Nigerian billionaire Aliko Dangote launched Africa's biggest-ever share sale on Monday, opening the oil refinery that has remade the country's fuel market to public ownership for the first time.
Volkswagen’s supervisory board has approved a major overhaul aimed at cutting 100,000 jobs by 2030 as the German carmaker battles weaker sales, falling profits and intensifying global competition.
Chinese Premier Li Qiang has called on American companies to expand their presence in China and pledged that Beijing would address their "reasonable concerns," as China looks to stabilise trade ties with Washington ahead of President Xi Jinping's planned visit to the U.S. later this month
Apple is entering a new era as Tim Cook steps down as chief executive after 15 years at the helm, handing the technology giant's leadership to longtime executive John Ternus.
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