Foreigners net sellers in Japanese stocks for second week in a row

June 30 (Reuters) - Foreign investors continued selling Japanese stocks in the week ending June 24 as investors remained concerned about the risks of a global recession amid aggressive rate hikes by the Federal Reserve to rein back inflation.

Foreigners sold Japanese stocks worth a net 316.22 billion yen($2.32 billion), after selling 1.72 trillion yen in the previous week, data from exchanges showed.

They disposed of 165.68 billion yen in cash equities and withdrew 150.54 billion yen out of derivatives.

Japanese stocks recovered from the previous week's fall last week, with cyclical and tech stocks posting big gains. Start-up investor SoftBank Group 9984.T surged 9.1%, while Japan Airlines 9201.T and rival ANA Holdings 9202.T climbed 6.9% and 4.15% respectively.

The Nikkei share average .N225 gained 2.04% and the Topix index .TOPX progressed 1.68% last week, after the previous week's steep losses.

Meanwhile, cross-border investors sold Japanese bonds worth a net 965.8 billion yen, marking the third straight weekly outflows, finance ministry data showed.

Domestic investors also drew 1.64 trillion yen out of overseas bonds, posting their biggest weekly net selling in about 3-1/2 months, but they were buyers in foreign equities, to the turn 51.4 billion yen. ($1 = 136.3000 yen)

Foreign flows into Japanese stocks Link
Japanese investments in stocks abroad Link

Reporting by Gaurav Dogra and Patturaja Murugaboopathy in
Bengaluru; Editing by Kim Coghill

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