MNI China Daily Summary: Tuesday, December 10

MNI BRIEF: China Nov Exports Slows, Imports Slide

MNI BRIEF: China Crude Oil Imports Accelerate In November

CHINA NOV EXPORTS +6.7% Y/Y VS MEDIAN +8.9% Y/Y: CUSTOMS

MNI: CHINA YTD EXPORTS +6.7% Y/Y IN YUAN TERM: CUSTOMS

MNI: PBOC Net Injects CNY90.3 Bln via OMO Tuesday

US NFIB NOV SMALL BUSINESS INDEX 101.7

MNI: GERMAN NOV CPI +2.2 % Y/Y

MNI: NORWAY NOV CORE CPI +0.1% M/M, +3% Y/Y

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

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Asian Equity Flows Muted As Tech Stocks Sell-Off

ASIA STOCKS
  • South Korea: South Korean equities saw outflows of $216m yesterday, contributing to a net outflow of $657m over the past five trading days. The 5-day average outflow is $131m, compared to the 20-day average inflow of $101m and the 100-day average inflow of $110m. Year-to-date, South Korea has experienced substantial inflows totaling $18.749b.
  • Taiwan: The local market was closed on Wednesday due to a Typhoon, expected heavily selling to resume once the market reopens after the Philadelphia SE Semiconductor Index fell 5.41% on Wednesday, with the Index now off 14% from all time highs made on July 7th. The 5-day average outflow is $901m, higher than the 20-day average outflow of $380m and the 100-day average outflow of $77m. Year-to-date, Taiwan has experienced outflows totaling $2.855b.
  • India: Indian equities saw outflows of $185m Tuesday, resulting in a net inflow of $1.833b over the past five trading days. The 5-day average inflow is $367m, higher than the 20-day average inflow of $306m and significantly higher than the 100-day average outflow of $50m. Year-to-date, India has experienced inflows totaling $4.877b.
  • Indonesia: Indonesian equities recorded outflows of $23m yesterday, leading to a net inflow of $49m over the past five trading days. The 5-day average outflow is $10m, below the 20-day average outflow of $8m and close to the 100-day average outflow of $11m. Year-to-date, Indonesia has experienced outflows totaling $149m.
  • Thailand: Thailand saw an inflow of $11m yesterday, resulting in a net inflow of $76m over the past five trading days. The 5-day average inflow is $15m, better than the 20-day average outflow of $10m and the 100-day average outflow of $26m. Year-to-date, Thailand has seen significant outflows amounting to $3.279b.
  • Malaysia: Malaysian equities experienced outflows of $8m yesterday, contributing to a 5-day net inflow of $18m. The 5-day average inflow is $4m, higher than the 20-day average inflow of $16m and the 100-day average outflow of $3m. Year-to-date, Malaysia has experienced inflows totaling $165m.
  • Philippines: Were closed on Wednesday due to a Typhoon. The 5-day average inflow is $14m, better than the 20-day average inflow of $4m and the 100-day average outflow of $6m. Year-to-date, the Philippines has seen outflows totaling $446m.

Table 1: EM Asia Equity Flows

YesterdayPast 5 Trading Days2024 To Date
South Korea (USDmn)-216-65718749
Taiwan (USDmn)**290-4506-2855
India (USDmn)*-18518334877
Indonesia (USDmn)-2349-149
Thailand (USDmn)1176-3279
Malaysia (USDmn)-818165
Philippines (USDmn)**868-446
Total -123-311917062
* Up to 23nd July
** Closed due to Typhoon
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