BNY Mellon On Asia Pac Flows

BNY Mellon highlights light flows in Asia Pac markets over the past week due to holidays etc. However, demand for THB and Thai equities has been present. In the bond space, Indonesia has seen selling pressure.

"iFlow data shows generally light flows across APAC assets over the past week with many countries celebrating mid-autumn holidays. THB had the strongest inflows, followed by CNY. SGD, MYR and TWD were under the most selling pressure. Something we found interesting: iFlow Hedge for both INR and THB is positive and statistically significant against equities flows. Aside from the THB inflows, Thai equities also saw accelerated demand. India equities, by contrast, saw profit taking after broad demand in Q3, accompanied by INR outflows. SGD is alone as overheld and unprofitable, and TWD alone as underheld and unprofitable. IDR and INR are both overheld and profitable. The rest are underheld and profitable.

APAC government bonds were under broad selling pressure, in Indonesia in particular: weekly average scored flows -1.06 SD. APAC corporate bonds were under similar outflow pressure. All this selling is probably a consequence of higher bond yields globally."