Asian Equity Flows Mixed, Tech Stocks See Outflows

• South Korea: South Korea experienced an outflow of $139m Friday, leading to a net outflow of $1.52b over the past five trading days and we have now marked 8 straight session of selling by foreign investors. Year-to-date, however, the country has accumulated substantial inflows totaling $16.29b. The recent 5-day average shows an outflow of $305m, which is below the 20-day average of -$121m, while the 100-day average remains positive at $28m.
• Taiwan: Taiwan recorded an outflow of $166m Friday, contributing to a net outflow of $1.91b over the past five trading days. Year-to-date, Taiwan has seen outflows totaling $9.70b. The 5-day average shows an outflow of $381m, which is below both the 20-day average of -$22m and the 100-day average of -$138m.
• India: India saw an inflow of $1.73b Thursday the largest inflow since March, leading to a net inflow of $2.82b over the past five trading days. Year-to-date, India has accumulated inflows totaling $17.91b. The 5-day average is $588m, well above the 20-day average of $52m, and the 100-day average remains slightly positive at $36m.
• Indonesia: Indonesian equities recorded an inflow of $722m Friday the largest inflow since April 2022, contributing to a net inflow of $974m over the past five trading days. Year-to-date, Indonesia has accumulated inflows totaling $1.83b. The 5-day average inflow is $195m, above the 20-day average of $88m, and well above the 100-day average of $0m.
• Thailand: Thailand experienced an outflow of $93m Friday ending 5 straight sessions on inflows the past 5 sessions have seen a net inflow of $35m. Year-to-date, Thailand has seen outflows amounting to $3.45b. The 5-day average shows an inflow of $7m, compared to the 20-day average of -$8m, and the 100-day average of -$15m.
• Malaysia: Malaysia recorded an inflow of $96m Friday and continues to see strong demand for local stocks having seen just a single day of outflows over the past 14 sessions this has led to a net inflow of $347m over the past five trading days. Year-to-date, Malaysia has seen inflows totaling $696m. The 5-day average inflow is $69m, above both the 20-day average of $28m and the 100-day average of $9m.
• Philippines: The Philippines recorded an outflow of $5m Friday, ending 14 days of straight inflows leading to a net $80m inflow over the past five trading days. Year-to-date, the Philippines has experienced outflows totaling $324m. The 5-day average inflow is $16m, above both the 20-day average of $7m and the 100-day average of -$5m.

Table 1: EM Asia Equity Flows