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Asian Equity Flows Continue Trend

ASIA STOCKS
  • South Korean equities were higher on Thursday (Kospi up 0.37%, Kosdaq up 0.43%). Flows were slightly above short term averages with the past 5 sessions have netting a total inflow of $1.36b. The Kospi hit new cycle highs on Thursday before selling off Friday morning. The 5-day average is $272m, above both the 20 day average of $82m and the longer-term 100-day average at $154m.
  • Taiwan equities were higher on Thursday with another strong inflow of $1.07b. The Taiex continues to make new all time highs and is now up 4.20% for the week, with the majority of gains coming from TSMC. The past 5 session's have seen a total inflow of $3.77b with the 5-day average now $755m, above both the 20-day average at $92m, while the 100-day average is $85m.
  • Thailand equities were lower on Thursday, largely erasing the gains made on Wednesday. Foreign investors have sold equities for 21 straight sessions, for a total outflow of $1.12b, the past 5 days seeing $267m in outflows. The 5-day average is now -$53.5m, below both the 20-day average at -$52m and the 100-day average at -$24.5m.
  • Philippines equities were slightly lower on Thursday making new ytd lows. Foreign investors have been better sellers of equities recently with seven straight days of selling, with the past 5 sessions have seen a net outflow of $30.5m. The 5-day average is now -$6.1m, slightly above the 20-day average at -$11m, but inline with the long term average at -$5.70m
  • Indonesian equities rallied 1.36% on Thursday, although the JCI is still down 2.18% for the past 5 trading sessions. Foreign investors have been better sellers of stocks recently apart from a decent inflow on the 13th, otherwise it has been 18 of the past 19 days of selling. The 5-day average is $8.5m, above the 20-day average at -$28m and the 100-day average at -$7m
  • Indian equities were slightly higher on Thursday, and now trade 1% higher for the week. Foreign investors have been better buyers post the election the other week, with 8 straight days of inflows for $1.1b. The 5-day average is $417m, above the 20-day average at $69m, and the 100-day average at $21m

Table 1: EM Asia Equity Flows

YesterdayPast 5 Trading Days2024 To Date
South Korea (USDmn)314136216951
Taiwan (USDmn)107137777061
India (USDmn)**11002089-1710
Indonesia (USDmn)-643-527
Thailand (USDmn)-53-267-2949
Malaysia (USDmn) **-26-31-46
Philippines (USDmn)-9-30.5-505
Total 2390694318276
** Up to 19th June
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