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<p>外國投資者在截至 4 月 4 日的一週內向東京上市股票注入了創紀錄的 2.96 萬億日元（186.5 億美元），結束了連續三週的拋售，緩解的地緣政治緊張局勢和財政年度末的交易模式吸引了買家重返日本市場。</p>
<p>財政部數據顯示，這一流入標誌着海外投資者在 3 月份大量拋售後的急劇反轉。</p>
<p>隨着投資者對美國和伊朗之間的臨時停火能夠維持的信心增強，反彈出現，緩解了對更廣泛地區衝突的擔憂，並幫助恢復了亞洲風險資產的需求。</p>
<p>日本股市迅速做出反應。</p>
<p>日經 225 指數在週三上漲了 5.39%，觸及三年來的最高點，買盤遍及藍籌股，出口商和其他週期性股票成為主要受益者。</p>
<h2>外資流入迴歸</h2>
<p>最新的周度數據突顯了海外投資者對日本股票的情緒變化之快。</p>
<p>外國投資者在 3 月份拋售了約 7.37 萬億日元的日本股票，但在新財政年度開始時強勢迴歸。</p>
<p>這種波動的部分原因似乎反映了季節性，而不是基本面的整體變化。</p>
<p>在日本財政年度結束時，外國金融機構通常會將日本的股權轉移到離岸機構，以便獲得與股息相關的税收優勢，並更有效地管理投票權。</p>
<p>這往往會在 3 月份造成人為的拋售壓力，隨後在 4 月初反彈。</p>
<p>野村的分析師北岡智佳表示，這些季節性流動可能加劇了反彈，因為投資者解除在財政年度末前建立的頭寸。</p>
<h2>停火提振市場情緒</h2>
<p>地緣政治情緒的改善給投資者提供了額外的理由重新進入市場。</p>
<p>對美伊對峙緩解的寬慰支持了全球風險資產的廣泛反彈，而日本的股市是最明顯的受益者之一。</p>
<p>這次反彈不僅僅反映了空頭回補。</p>
<p>投資者回歸大型流動性股票，這些股票在信心改善期間往往吸引外國資金，表明這一舉動至少部分是由新的配置驅動，而不僅僅是戰術性重新定位。</p>
<p>這很重要，因為日本一直是全球基金尋求在不承擔同等程度直接中國風險的情況下接觸亞洲的首選市場。</p>
<p>當地緣政治緊張局勢緩解時，市場往往成為重新獲得外國流入的早期受益者。</p>
<h2>債券需求保持強勁</h2>
<p>根據數據，海外投資者在此期間還購買了 2.46 萬億日元的日本長期債券。</p>
<p>這發生在基準日本政府債券收益率攀升至近三十年來的最高水平之際，提高了固定收益對國際投資者的吸引力。</p>
<p>股票和債券需求的同時上升表明對日本資產的更廣泛重新評估。</p>
<p>國內收益率的上升使日本的債券市場愈發引人注目，而外部風險情緒的穩定則幫助股票重新獲得動能。</p>
<h2>投資者將關注什麼</h2>
<p>現在的關鍵問題是，外國購買的反彈在季節性效應消退後是否能夠持續。</p>
<p>如果未來幾周流入繼續，投資者可能會將其視為日本反彈得到了全球資產配置者更深層次支持的證據。</p>
<p>目前，創紀錄的每週股票流入、強勁的債券需求以及日經指數三年來的高點表明，海外投資者再次願意增加對日本的投資，只要地緣政治背景保持平靜，國內收益率保持支持。</p>
<p>日本股票在經歷三週拋售後吸引創紀錄的 186 億美元外資流入的文章首次出現在 Invezz 上。</p>

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<p>外資在截至 4 月 4 日的一週內對東京上市股票的投資創下了 296 萬億日元（186.5 億美元）的紀錄，扭轉了連續三週的賣出趨勢。這一湧入受到地緣政治緊張局勢緩解和財年末交易模式的推動。日經 225 指數上漲了 5.39%，達到了三年來的最高點，市場信心恢復。此外，外資還購買了 2.46 萬億日元的日本長期債券，表明對日本資產的重新評估。隨着季節性影響的減弱，這一外資購買反彈的可持續性仍有待觀察</p>

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<p>Foreign investors poured a record2.96trillion yen ($18.65 billion) into Tokyo-listed shares in the week ended April4, reversing three straight weeks of selling as easing geopolitical tensions and fiscal year-end trading patterns drew buyers back into Japan’s market.</p>
<div class="lb-trans"><p>外國投資者在截至 4 月 4 日的一週內向東京上市股票注入了創紀錄的 2.96 萬億日元（186.5 億美元），結束了連續三週的拋售，緩解的地緣政治緊張局勢和財政年度末的交易模式吸引了買家重返日本市場。</p>
</div><p>Ministry of Finance data showed the inflows marked a sharp turnaround after overseas investors had sold heavily through March.</p>
<div class="lb-trans"><p>財政部數據顯示，這一流入標誌着海外投資者在 3 月份大量拋售後的急劇反轉。</p>
</div><p>The rebound came as investors grew more confident that a temporary truce between the US and Iran would hold, easing fears of a broader regional conflict and helping revive appetite for risk assets across Asia.</p>
<div class="lb-trans"><p>隨着投資者對美國和伊朗之間的臨時停火能夠維持的信心增強，反彈出現，緩解了對更廣泛地區衝突的擔憂，並幫助恢復了亞洲風險資產的需求。</p>
</div><p>Japan’s stock market responded quickly.</p>
<div class="lb-trans"><p>日本股市迅速做出反應。</p>
</div><p>The Nikkei225climbed5.39%on Wednesday and touched a three-year high as buying spread across blue-chip stocks, with exporters and other cyclical shares among the main beneficiaries.</p>
<div class="lb-trans"><p>日經 225 指數在週三上漲了 5.39%，觸及三年來的最高點，買盤遍及藍籌股，出口商和其他週期性股票成為主要受益者。</p>
</div><h2>Foreign inflows return</h2>
<div class="lb-trans"><h2>外資流入迴歸</h2>
</div><p>The latest weekly reading underscores how quickly overseas sentiment towards Japanese equities can shift.</p>
<div class="lb-trans"><p>最新的周度數據突顯了海外投資者對日本股票的情緒變化之快。</p>
</div><p>Foreign investors had dumped about7.37trillion yen of Japanese stocks in March, but stepped back in force at the start of the new fiscal year.</p>
<div class="lb-trans"><p>外國投資者在 3 月份拋售了約 7.37 萬億日元的日本股票，但在新財政年度開始時強勢迴歸。</p>
</div><p>Part of that swing appears to reflect seasonality rather than a wholesale change in fundamentals.</p>
<div class="lb-trans"><p>這種波動的部分原因似乎反映了季節性，而不是基本面的整體變化。</p>
</div><p>Around the end of Japan’s fiscal year, foreign financial institutions often move Japanese shareholdings to offshore arms in order to capture dividend-related tax advantages and manage voting rights more efficiently.</p>
<div class="lb-trans"><p>在日本財政年度結束時，外國金融機構通常會將日本的股權轉移到離岸機構，以便獲得與股息相關的税收優勢，並更有效地管理投票權。</p>
</div><p>That tends to create artificial selling pressure in March, followed by a rebound in early April.</p>
<div class="lb-trans"><p>這往往會在 3 月份造成人為的拋售壓力，隨後在 4 月初反彈。</p>
</div><p>Tomochika Kitaoka, an analyst at Nomura, said those seasonal flows likely amplified the rally as investors unwound positions built before the fiscal year-end.</p>
<div class="lb-trans"><p>野村的分析師北岡智佳表示，這些季節性流動可能加劇了反彈，因為投資者解除在財政年度末前建立的頭寸。</p>
</div><h2>Truce lifts market mood</h2>
<div class="lb-trans"><h2>停火提振市場情緒</h2>
</div><p>The improvement in geopolitical sentiment gave investors an additional reason to buy back into the market.</p>
<div class="lb-trans"><p>地緣政治情緒的改善給投資者提供了額外的理由重新進入市場。</p>
</div><p>Relief that the US-Iran stand-off had eased supported a broad-based rebound in global risk assets, and Japan’s equity market was one of the clearest beneficiaries.</p>
<div class="lb-trans"><p>對美伊對峙緩解的寬慰支持了全球風險資產的廣泛反彈，而日本的股市是最明顯的受益者之一。</p>
</div><p>The rally reflected more than short covering.</p>
<div class="lb-trans"><p>這次反彈不僅僅反映了空頭回補。</p>
</div><p>Investors returned to large, liquid stocks that tend to attract foreign money during periods of improving confidence, suggesting the move was driven at least in part by fresh allocations rather than purely tactical repositioning.</p>
<div class="lb-trans"><p>投資者回歸大型流動性股票，這些股票在信心改善期間往往吸引外國資金，表明這一舉動至少部分是由新的配置驅動，而不僅僅是戰術性重新定位。</p>
</div><p>That matters because Japan has remained a favoured market for global funds seeking exposure to Asia without taking on the same degree of direct China risk.</p>
<div class="lb-trans"><p>這很重要，因為日本一直是全球基金尋求在不承擔同等程度直接中國風險的情況下接觸亞洲的首選市場。</p>
</div><p>When geopolitical tension eases, the market often becomes an early recipient of renewed foreign flows.</p>
<div class="lb-trans"><p>當地緣政治緊張局勢緩解時，市場往往成為重新獲得外國流入的早期受益者。</p>
</div><h2>Bond demand stays firm</h2>
<div class="lb-trans"><h2>債券需求保持強勁</h2>
</div><p>Overseas investors also bought2.46trillion yen of Japanese long-term bonds during the period, according to the data.</p>
<div class="lb-trans"><p>根據數據，海外投資者在此期間還購買了 2.46 萬億日元的日本長期債券。</p>
</div><p>That came as yields on benchmark Japanese government bonds climbed towards their highest levels in nearly three decades, improving the appeal of fixed income for international investors.</p>
<div class="lb-trans"><p>這發生在基準日本政府債券收益率攀升至近三十年來的最高水平之際，提高了固定收益對國際投資者的吸引力。</p>
</div><p>The simultaneous pickup in demand for both equities and bonds points to a broader reassessment of Japanese assets.</p>
<div class="lb-trans"><p>股票和債券需求的同時上升表明對日本資產的更廣泛重新評估。</p>
</div><p>Higher domestic yields are making Japan’s bond market harder to ignore, while a stabilisation in external risk sentiment is helping equities regain momentum.</p>
<div class="lb-trans"><p>國內收益率的上升使日本的債券市場愈發引人注目，而外部風險情緒的穩定則幫助股票重新獲得動能。</p>
</div><h2>What investors will watch</h2>
<div class="lb-trans"><h2>投資者將關注什麼</h2>
</div><p>The key question now is whether the rebound in foreign buying can be sustained once the seasonal effect fades.</p>
<div class="lb-trans"><p>現在的關鍵問題是，外國購買的反彈在季節性效應消退後是否能夠持續。</p>
</div><p>If inflows continue in the coming weeks, investors may read that as evidence that Japan’s rally has deeper support from global asset allocators.</p>
<div class="lb-trans"><p>如果未來幾周流入繼續，投資者可能會將其視為日本反彈得到了全球資產配置者更深層次支持的證據。</p>
</div><p>For now, the combination of a record weekly equity inflow, stronger bond demand and a three-year high in the Nikkei suggests overseas investors are once again willing to add to Japan exposure, provided the geopolitical backdrop remains calm and domestic yields stay supportive.</p>
<div class="lb-trans"><p>目前，創紀錄的每週股票流入、強勁的債券需求以及日經指數三年來的高點表明，海外投資者再次願意增加對日本的投資，只要地緣政治背景保持平靜，國內收益率保持支持。</p>
</div><p>The post Japan stocks pull record $18.6B foreign inflow after 3-week selloff appeared first on Invezz</p>
<div class="lb-trans"><p>日本股票在經歷三週拋售後吸引創紀錄的 186 億美元外資流入的文章首次出現在 Invezz 上。</p>
</div>

Japan stocks pull record $18.6B foreign inflow after 3-week selloff

invezz

Japan Agricultural Cooperatives Group

Mitsubishi UFJ Financial Group, Inc.

BlackRock, Inc.

GENERATION PASS CO. LTD.

Welcia Holdings Co., Ltd.

Asset Management One Co., Ltd.

Nomura Holdings, Inc.

在連續三週的拋售之後，日本股市吸引了創紀錄的 186 億美元外資流入