Asian Tech Stocks See Selling Ahead Of Nvidia's Earnings

• South Korea: South Korea experienced an outflow of $430m on Monday, leading to a net outflow of $473m over the past five trading days. Year-to-date, however, the country has accumulated substantial inflows totaling $17.38b. The recent 5-day average shows a small outflow of $95m, while the 20-day average shows an outflow of $39m, and the 100-day average inflow is $52m.
• Taiwan: Taiwan recorded an outflow of $286m on Monday, contributing to a net inflow of $110m over the past five trading days. Despite the recent inflows, year-to-date, Taiwan has seen outflows totaling $8.08b. The 5-day average shows a modest inflow of $22m, while the 20-day average indicates an outflow of $117m, and the 100-day average shows an outflow of $128m.
• India: India saw a significant inflow of $463m on Friday, leading to a net inflow of $904m over the past five trading days. Year-to-date, India has accumulated inflows totaling $2.56b. The 5-day average inflow is $181m, while the 20-day average shows an outflow of $82m, and the 100-day average remains slightly negative at $10m.
• Indonesia: Indonesian equities recorded an inflow of $60m on Monday, contributing to a net inflow of $554m over the past five trading days. Year-to-date, Indonesia has accumulated inflows totaling $918m. The 5-day average inflow is $111m, with a 20-day average inflow of $50m, although the 100-day average shows a small outflow of $8m.
• Thailand: Thailand experienced an inflow of $16m on Monday, contributing to a net inflow of $150m over the past five trading days. Year-to-date, Thailand has seen outflows amounting to $3.47b. The 5-day average shows an inflow of $30m, while the 20-day and 100-day averages reflect outflows of $9m and $15m, respectively.
• Malaysia: Malaysia recorded a small inflow of $1m on Monday, contributing to a net inflow of $190m over the past five trading days. Year-to-date, Malaysia has seen inflows totaling $350m. The 5-day average inflow is $38m, while the 20-day average shows a modest inflow of $14m, and the 100-day average reflects a small inflow of $5m.
• Philippines: The Philippines market has been closed for the past two sessions for public holidays, the past five trading sessions have seen a net inflow of $124m. Year-to-date, the Philippines has experienced outflows totaling $362m. The 5-day average inflow is $25m, aligning with the 20-day average inflow of $4m, but the 100-day average still reflects an outflow of $6m.

Table 1: EM Asia Equity Flows