Share Market

Japanese investors sold $ 34 billion worth of foreign shares

Last week, Japanese investors sold a record number of foreign shares, moving net foreign shares of $ 34 billion. This amount is more than any of the last 6 weeks. A key factor was selling SoftBank’s of a part of its stake in T-Mobile following a long merger with Sprint Corp. as part of SoftBank’s broader $ 42 billion plan to offload assets. For $ 21 billion, it will be one of the largest sales of foreign shares in the Japanese company, and the 2012 SoftBank acquisition of Sprint was the largest at the time. The Japanese remain net buyers of about 1.8 trillion yen in foreign stocks in 2020 after buying 2.6 trillion yen in 2019, as reported Bloomberg.

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