For the week ending August 8, international investors sold off Japanese equities for a second consecutive week. This trend was driven by market expectations that authorities would implement additional measures to support the yen, which dampened buying appetite for Japanese stocks.

Data from Japan's Ministry of Finance revealed that foreign investors were net sellers of Japanese stocks worth 368.5 billion yen (approximately $2.31 billion) during that week. This follows a net sell-off of 392.5 billion yen in the prior week.

Last week, Japan's Ministry of Finance stated that the United States and Japan had coordinated on intervention to buy the yen and would not hesitate to take further steps. Following this intervention, the yen briefly touched a near three-month high of 155.21 yen against the U.S. dollar. The latest trading level was 159.43 yen to the dollar.

A stronger yen increases the dollar value of Japanese assets held by foreign investors but simultaneously reduces their purchasing power to buy new shares using dollars.