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Asian Equity Flows Mixed, Markets Lower

ASIA STOCKS
  • South Korean equity markets were unchanged on Tuesday, the Kospi hold just above the 20-day EMA, while inflows were above the short-term average with a $104m inflow taking the past 5 sessions to a net inflow of $330. Later this week we have Industrial Production. The 5-day average is now just $65.8m, below the 20-day average of $110.5m, and well down on the longer term 100-day average at $160m.
  • Taiwan equities continue their rally higher, they closed up another 0.25% on Tuesday, and now trade up 13% since their recent lows on Apr 19th. There was a $21m outflow on Tuesday taking the past 5 trading sessions to a net inflow of $2.03b. Focus this week will be on GDP on Thursday. The 5-day average now sits at $407m, below the 20-day average at $314m however both are well above the longer term 100-day average at $89m.
  • Thailand equities were slightly lower on Tuesday with the SET continuing it's directionless trading since mid October. Equity flow momentum has been negative in the short-term as we mark 5 straight session of net selling by foreign investors for a net outflow of $211m. Focus this week will be on BoP Current Account Balance on Friday. The 5-day average is now -$42m, below the 20-day average at -$9.5m and the 100-day average at -$19.5m.
  • Indian equities were a touch lower on Tuesday, and just off recent all time highs. Equity flows have been mixed recently, although we are positive for the past 5 trading sessions for a total inflow at $714m. This week we have GDP on Friday. The 5-day average is now $142m, below both the 20-day average at -$147m and the 100-day average at $18m.
  • Philippines equities were down 1% Tuesday, the PSEi broke back below the 200-day EMA with next support 6,400 and the lows from Apr 19th. Equity flow momentum has been mixed recently we have seen a net outflow of $25m over the past 5 sessions. The 5-day average is -$5.05m, above the 20-day average at -$17.23m, while slightly below the 100-day average of -$3.1m
  • Malaysian equities were slightly lower on Tuesday, and just of recent all time highs, equity flows have been positive recently with the past 5 trading sessions netting an inflow $63m, It's a quiet week for economic data in the region. The 5-day average now $12m, now above the 20-day average at $35m and well above the longer term 100-day average at $1.1m.

Table 1: EM Asia Equity Flows

YesterdayPast 5 Trading Days2024 To Date
South Korea (USDmn)10532915424
Taiwan (USDmn) -2120386159
India (USDmn)*84715-2628
Indonesia (USDmn)-37-205-156
Thailand (USDmn)-45-212-2035
Malaysia (USDmn) *-376467
Philippines (USDmn)-14-25.2-307
Total 35270416523
* Data Up To Apr 27th
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