Asian Equity Flows Muted, SK Continues To See Outflows

• South Korea: South Korea experienced an outflow of $258m on Tuesday, resulting in a net outflow of $906m over the past five trading days. The region has seen 11 of the past 12 days of outflows as investors continue to sell tech stocks. Year-to-date, the country has accumulated substantial inflows totaling $16.17b. The recent 5-day average shows an outflow of $181m, which is below the 20-day average of -$55m, while the 100-day average remains positive at $28m.
• Taiwan: Taiwan recorded a small inflow of $79m on Tuesday, ending 6 days of outflows although we have a net outflow of $1.34b over the past five trading days. Year-to-date, Taiwan has seen outflows totaling $9.69b. The 5-day average shows an outflow of $268m, which is below the 20-day average of $24m, and in line with the 100-day average of -$144m.
• India: India saw an inflow of $687m on Monday, leading to a net inflow of $3.1b over the past five trading days. The Nifty 50 has made new record highs over the past week. Year-to-date, India has accumulated inflows totaling $18.78b. The 5-day average is $633m, well above the 20-day average of $142m, and the 100-day average remains slightly positive at $47m.
• Indonesia: Indonesian equities recorded an inflow of $8m on Tuesday, contributing to a net inflow of $1.03b over the past five trading days.. Year-to-date, Indonesia has accumulated inflows totaling $1.92b. The 5-day average inflow is $207m, above the 20-day average of $94m, and well above the 100-day average of $2m.
• Thailand: Thailand experienced an outflow of $20m on Tuesday and has now seen three straight session of outflows resulting in a net outflow of $77m over the past five trading days. Year-to-date, Thailand has seen outflows amounting to $3.51b. The 5-day average shows an outflow of $15m, compared to the 20-day average of -$9m, and the 100-day average of -$16m.
• Malaysia: Malaysia continues to record inflows with a $45m on Tuesday, contributing to a net inflow of $366m over the past five trading days. Year-to-date, Malaysia has seen inflows totaling $754m. The 5-day average inflow is $73m, above both the 20-day average of $35m and the 100-day average of $10m.
• Philippines: The Philippines recorded no inflow on Tuesday, we have seen a net inflow of $30m over the past five trading days. Year-to-date, the Philippines has experienced outflows totaling $316m. The 5-day average inflow is $6m, below the 20-day average of $8m and above the 100-day average of -$5m.

Table 1: EM Asia Equity Flows