TOKYO (AFX-ASIA) - The Ministry of Finance said foreign investors were net buyers of 940.2 bln yen worth of Japanese equities in May, compared with net purchases of 474.5 bln in April. They were also net buyers of 60.6 bln yen worth of bonds after net sales of 721.4 bln in April. "In May, US pension funds particularly bought Japanese equities amid expectations of Japan's economic recovery. It seems like investors in Europe followed to buy Japanese equities," a ministry official said. Japanese investors were net buyers of 655.8 bln yen worth of overseas equities in May, compared with net purchases of 513.9 bln in April, the ministry said. Japanese investors were also net buyers of 1.35 trln yen of overseas bonds, compared with net purchases of 1.6 trln in April.