Nov 26 (Reuters) - Foreign investors turned net sellers of Japanese shares last week as global concerns over inflation and rising cost pressure from a weaker yen outweighed strength in technology heavyweights. Foreigners sold stocks worth a net 145.05 billion yen ($1.27 billion) in the week to Nov. 19 after two straight weeks of net buying, data from Japanese exchanges showed.However, overseas investors purchased a net 3.64 billion yen of Japanese bonds last week, marking a third consecutive week of net buying, finance ministry data showed. A combination of stronger than expected retail sales in the U.S. and rising consumer prices turned investors cautious last week, as it increased the odds that the U.S. Federal Reserve could hike rates sooner than previously expected. The dollar hit a four-and-a-half-year high against the yen last week. However, Japanese shares gained in the previous week on demand for companies with upbeat outlook such as Toyota Motor (7203.T), and expectations of a larger than expected government stimulus package. read more The Nikkei share average (.N225) gained 0.46% last week and the Topix index (.TOPX) added 0.2%. Both Japanese indexes are set to lose about 3% this week on worries about a newly identified coronavirus variant spreading in South Africa that could deter a global economic recovery. read more Japanese investors sold a net 546.6 billion yen in overseas equities last week, which was their biggest weekly net selling since mid-April, though they purchased a net 10.3 billion yen in cross-border bonds.