NORGES: RATES PROBABLY AT CURRENT LEVEL QUITE SOME TIME

RATES MAY NEED TO BE ON HOLD LONGER THAN ENVISIONED: NORGES

MNI: NORGES BANK LEAVES RATES UNCHANGED AT 4.50%

MNI WATCH: CNB Seen Cutting 50Bps to 5.25%, Signal Slower Pace

MNI China Daily Summary: Tuesday, April 30

MNI BRIEF: China To Keep Tackling Risks In Real Estate, Debts

MNI: BAKER HUGHES US RIG COUNT 605; OIL RIGS 499; GAS RIGS 102

BoE Data Watch

RBA Data Watch

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Asian Equity Flows Mixed, Momentum Remains Negative

ASIA STOCKS
Energy BulletsHomepagemarkets-real-timeBulletCommodities
  • China equity flows continue to see-saw, with a 0.34b yuan inflow on Thursday, equity markets were slightly higher, the CSI300 continues its rangebound trading, with the 200-day acting as resistance, while we trade on the 50 & 100-day EMA act as support. Flow momentum remains negative with the 5-day average now -0.62b, 20-day average at -0.66b and the longer term 100-day average now 0.32B yuan.
  • Taiwan equities flows were again negative on Thursday while the market sold off over 1% erasing most of the prior days move higher, with US GDP the driver of the move lower. The 5-day average is now -$578m, vs the 20-day at -$392m, while the 100-day average is now just $48m.
  • South Korean equity flows were again negative on Thursday as investors worried about US GDP, the Kospi was down 1.76% erasing the prior days move higher and trading back below the 20 & 50-day EMA. The 5-day average is now -$211m, the 20-day average to $83m and the 100-day average to $170m.
  • Philippines equities ended their 14-day run of outflows with a small 2.2m inflow on Thursday. The PSEi has bounced off the 6,400 level and now trades at the 200-day EMA. The 5-day average is -$12m, the 20-day average is -$9.5m, while the 100-day average continues to edge lower now at $0.38m.
  • Indonesian equities saw a tiny inflow on Wednesday, which ended a 15-day run of outflows, although the trend has now continued with another $79m outflow on Thursday, the market has now seen a net outflow of $1.12B over the past 17-days. The 5-day average is now -$39m, the 20-day average is -$52m, while the longer term 100-day average is still positive at $12.7m.
  • Thailand's SET has been one of the worst performing equity markets in the region over the past year, and has recently broken back below the 20, 50, 100 & 200-day EMA's and broke the 1,350 level which we had traded above since November 2020. The 5-day average is $0.87m, 20-day average is $4.29m, while the longer term 200-day average is -$20m
Table 1: EM Asia Equity Flows
YesterdayPast 5 Trading Days2024 To Date
China (Yuan bn)*0.3-3.149.5
South Korea (USDmn)-385-105813214
Taiwan (USDmn) -877-2890-1879
India (USDmn)**507-627320
Indonesia (USDmn) -80-196681
Thailand (USDmn)494-1845
Malaysia (USDmn) **65-29-608
Philippines (USDmn) 2-64.113
Total (Ex China USDmn)-719-48609896
* Northbound Stock Connect Flows
** Data Up To Apr 24th
417 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
  • China equity flows continue to see-saw, with a 0.34b yuan inflow on Thursday, equity markets were slightly higher, the CSI300 continues its rangebound trading, with the 200-day acting as resistance, while we trade on the 50 & 100-day EMA act as support. Flow momentum remains negative with the 5-day average now -0.62b, 20-day average at -0.66b and the longer term 100-day average now 0.32B yuan.
  • Taiwan equities flows were again negative on Thursday while the market sold off over 1% erasing most of the prior days move higher, with US GDP the driver of the move lower. The 5-day average is now -$578m, vs the 20-day at -$392m, while the 100-day average is now just $48m.
  • South Korean equity flows were again negative on Thursday as investors worried about US GDP, the Kospi was down 1.76% erasing the prior days move higher and trading back below the 20 & 50-day EMA. The 5-day average is now -$211m, the 20-day average to $83m and the 100-day average to $170m.
  • Philippines equities ended their 14-day run of outflows with a small 2.2m inflow on Thursday. The PSEi has bounced off the 6,400 level and now trades at the 200-day EMA. The 5-day average is -$12m, the 20-day average is -$9.5m, while the 100-day average continues to edge lower now at $0.38m.
  • Indonesian equities saw a tiny inflow on Wednesday, which ended a 15-day run of outflows, although the trend has now continued with another $79m outflow on Thursday, the market has now seen a net outflow of $1.12B over the past 17-days. The 5-day average is now -$39m, the 20-day average is -$52m, while the longer term 100-day average is still positive at $12.7m.
  • Thailand's SET has been one of the worst performing equity markets in the region over the past year, and has recently broken back below the 20, 50, 100 & 200-day EMA's and broke the 1,350 level which we had traded above since November 2020. The 5-day average is $0.87m, 20-day average is $4.29m, while the longer term 200-day average is -$20m
Table 1: EM Asia Equity Flows
YesterdayPast 5 Trading Days2024 To Date
China (Yuan bn)*0.3-3.149.5
South Korea (USDmn)-385-105813214
Taiwan (USDmn) -877-2890-1879
India (USDmn)**507-627320
Indonesia (USDmn) -80-196681
Thailand (USDmn)494-1845
Malaysia (USDmn) **65-29-608
Philippines (USDmn) 2-64.113
Total (Ex China USDmn)-719-48609896
* Northbound Stock Connect Flows
** Data Up To Apr 24th