Asian Equity Flows Remain Negative, India Sees Majority of Selling

• South Korean equities edged higher on Friday, flows remain mixed with a $127m outflow on Friday, ending two days of inflows. The 5-day average is $188m, now above the 20day average of -$32m and the longer-term trend at $140m.
• Taiwan equities hit new all time highs of Thursday before a small sell off on Friday as investors looked to take profits. We saw an outflow of $175m, and a net outflow of $65m over the past 5 sessions. The 5-day average is now -$13m, below the 20-day average of $88m and the 100-day average at $25m.
• Thailand equities were higher on Friday, although returns were mixed over the past week, while Foreign investors continued to sell equities with Friday marking the 12th straight day of selling for a total outflow of $276m. The 5-day average is now -$55m, below both the 20-day average at -$26m and the 100-day average at -$24m.
• Indonesian equities have now marked 12 straight sessions of selling from foreign investors, with the past 5 session seeing a net outflow of $143m. The JCI made new ytd lows and closed the week below 7,000. The 5-day average is now -$29m, the 20-day average at -$36m and the 100-day average at -$3m.
• Philippines equities were little changed on Friday, with a small inflow as well, marking the first time in two weeks we had two days of inflows. The past 5 sessions have seen an outflow of $35m. The 5-day average is -$7m, below the 20-day average at -$7m and the 100-day average at -$5.4m.
• Indian equities have been very volatile over the past few days due to the presidential elections, after an initial 5% sell off during the votes being counted we have since pared those losses, outflows however still remain negative with a total outflow $1.76b . The 5-day average is now -$353m, 20-day average is -$211m, both below the 100-day average at $6.6m

Table 1: EM Asia Equity Flows