Generally, individual investors tend to adopt a contrarian approach, selling when stock prices rise and buying when they fall. During the stock price increase in January and February, while foreign investors significantly net bought, individuals predominantly sold off. However, after the Nikkei surpassed its historic high of 38,915 yen in 1989 on February 22, and broke through 40,000 yen in March, there was a concern about missing out on further gains. Consequently, when stock prices fell from mid-March onward, there appeared to be aggressive buying from individuals.
Additionally, foreign investors also have net bought a total of 660.0 billion yen in cash equities and futures in April. Despite the significant net selling amounting to 1.139 trillion yen in cash equities and futures during the 3rd week of April, when the Nikkei dropped by 2,400 yen, they were net buyers in the 1st, 2nd, and 4th weeks, leading to an overall monthly dominance in buying.
