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ASIA STOCKS: Tech See Outflows, Indonesia & Malaysia Benefit From Fed Cuts

ASIA STOCKS

Looking back over the week, there have been heavy flows out of the tech heavy markets. India's market made new highs, while Indonesia & Malaysia continue to benefit from expected Fed rate cuts

  • South Korea: Saw $455m of outflows yesterday marking the 12th straight session, with past 5 sessions now -$1.43b, while YTD is +$14.99b. The 5-day average is -$286m, well below both the 20-day average of -$114m and the 100-day average of +$7m.
  • Taiwan: Saw $817m of outflows yesterday, with past 5 sessions now -$4.06b, while YTD is -$13.60b, the worst in the region. Sept 4 was the largest outflow in 3 years. The 5-day average is -$812m, significantly below the 20-day average of -$80m and the 100-day average of -$177m.
  • India: Saw an inflow of $189m yesterday, with the past 5 sessions now +$3.15b, while YTD is +$19.33b. The 5-day average is +$354m, above the 20-day average of +$208m and the 100-day average of +$51m.
  • Indonesia: Saw an inflow of $48m yesterday, with the past 5 sessions now +$866m, while YTD has seen +$1.98b. The 5-day average is +$173m, above the 20-day average of $93m and well above the 100-day average of $4m.
  • Thailand: Saw an inflow of $223m yesterday, with the past 5 sessions now +$49m, while YTD flows are -$3.31b. The 5-day average is +$10m, slightly above the 20-day average of $0m and the 100-day average of -$14m.
  • Malaysia: Saw an inflow of $46m yesterday, with the past 5 sessions now +$266m, while YTD flows are +$866m. The 5-day average is +$53m, above both the 20-day average of +$44m and the 100-day average of +$12m.
  • Philippines: Saw an inflow of $5m yesterday, with the past 5 sessions now +$10m, while YTD flows are -$309m. The 5-day average is +$2m, below the 20-day average of +$9m and slightly above the 100-day average of -$4m.

Table 1: EM Asia Equity Flows

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