Foreigners Like Japan Stocks

Foreign investors just can't seem to get enough of Japanese stocks these days. In the first nine weeks of 1994, they were net buyers to the tune of $24 billion. That's nearly double what foreigners bought in all of 1993. According to Keith Donaldson, equity strategist for Salomon Brothers in Tokyo, the foreign buying has held the Nikkei up near 20,000 despite heavy selling from Japanese corporations looking to bolster their bottom line as the end of the Japanese fiscal year approaches.