Nov 17 (Reuters) - Japanese stocks obtained big foreign inflows in the week to Nov. 11 as data showing a smaller-than-expected rise in U.S. consumer prices fuelled hopes that the Federal Reserve could downsize its interest rate hikes.

Foreigners purchased Japanese stocks worth a net of 734.89 billion yen ($5.27 billion), which was their biggest weekly net buying since July 22, data from exchanges showed.

Foreigners poured 520.98 billion yen in cash equities in a third straight week of net buying, while drawing a net 213.91 billion yen worth of derivatives.

However, outsiders are still net sellers of 3.34 trillion yen worth of Japanese stocks, so far this year.

Rate-sensitive growth stocks surged last week after a lower-than-expected U.S. inflation reading. Chip equipment maker Tokyo Electron and peer Advantest both jumped about 17% in their biggest weekly rise since at least April 2020.

The Nikkei share average gained 3.9% and hit a two-month high, while the Topix index added 3.26% in a third straight week of advance last week.

Meanwhile, non-native investors purchased a net 782.1 billion yen worth of Japanese bonds last week, after two weeks of net selling in a row.

Japanese investors, however, exited 38.2 billion yen worth of foreign equities last week, while withdrawing a net 95 billion yen out of overseas bonds in a fourth straight week of net selling. ($1 = 139.5200 yen)

(Reporting by Gaurav Dogra and Patturaja Murugaboopathy in Bengaluru; Editing by Janane Venkatraman)