Nov 4 (Reuters) - Foreign investors turned net buyers of Japanese stocks last week, as economic data pointing to a cooling U.S. economy eased worries about the Federal Reserve's aggressive interest rate increases.
Foreigners purchased Japanese stocks worth a net 178.89 billion yen ($1.21 billion) in the week ended Oct. 28, after two straight weeks of net selling, data from exchanges showed.
Investors were also optimistic about domestic companies' performance in the ongoing earnings season due to the support from a weaker yen, as electric motor maker Nidec Corp kicked off the season with strong results.
Foreigners secured derivatives worth a net 95.36 billion yen, while obtaining 83.53 billion yen worth of cash equities.
However, cross-border investors have so far sold a net 4.32 trillion yen worth of Japanese stocks this year.
Japanese equities benchmarks, the Nikkei share average and the Topix index, both gained nearly 1% last week, after posting two weeks of losses in a row.
Non-native investors disposed of a net 1.08 trillion yen worth of Japanese bonds last week, which was their biggest weekly net selling in four weeks.
Japanese investors on the other hand, exited 248.1 billion yen worth of foreign equities in their first weekly net selling in seven weeks. They also withdrew 1.08 trillion yen out of overseas bonds. ($1 = 147.9100 yen)
(Reporting by Gaurav Dogra and Patturaja Murugaboopathy in Bengaluru; Editing by Rashmi Aich)
