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Equities Head Lower, As Foreign Investors Dump Stock

ASIA STOCKS
Energy BulletsHomepagemarkets-real-timeBulletCommodities
  • China equities flows have been mixed recently with an outflow of 2.80b yuan on Tuesday, there has been little direction as CSI300 failed to break above the 3,600 mark, although over the past few days there has been a divergence between small-cap and large-cap indices. On Tuesday China's GDP data show a strong beat coming in at 5.3% vs 4.8% although Industrial Production and Retail Sales data missed estimates. Equity flow momentum is flat, with the 5-day average now -0.83b, 20-day average at 0.21b and the longer term 100-day average now just 0.38B yuan.
  • Taiwan equities saw another day of outflows with a -$1.34b leaving the market marking the fourth straight day of selling by foreigners for a total of about $2.8b. The Taiex was down 2.28% on Monday and now off 4.70% over the past week after failing to break the 20,800 level and now trades below the 20-day EMA at 19,900. The 5-day average is now -$554m, vs the 20-day at -$309m both well below the longer-term trend of $134m
  • South Korea equities have now marked three straight days out net selling by foreign investors and the largest outflow since 15th March, with $305m leaving the market. The Kospi is now off 6.40% from recent highs, and has broken below the 20, 50 & 100-day EMA, sellers are in control with the 14-day RSI now at 34.50. The 5-day average to $87m, the 20-day average to $284m and the 100-day average to $181m.
  • Philippines equities broke below the 6,800-mark Apr 5th, a level that had acted at support for the prior month or so, the PSEi is now off 9.42% from its highs made on Apr 2nd and broke through the support zone of 6,600 on Monday, the index now trades down at 6,400. Equity flows have been negative for 8 straight days for a total outflow of -$87m. The 5-day average is -$11m, the 20-day average is -$8.25m, while the $1.47m.
  • Indonesia returned from a long break on Tuesday and foreign investors have continued selling equities, with a $151m outflow, marking the 10th straight session out outflows for a total of $860m the JCI is now down 5.20% from recent cycle highs. The 5-day average is now -$128m, the 20-day average is -7m, while the longer term 100-day average is still positive at $14.7m
    • Table 1: EM Asia Equity Flows


YesterdayPast 5 Trading Days2024 To Date
China (Yuan bn)*-2.8-4.258.2
South Korea (USDmn)-30643713809
Taiwan (USDmn) -1335-27731846
India (USDmn)**-3883021339
Indonesia (USDmn) -152-640950
Thailand (USDmn)***-50243-1666
Malaysia (USDmn) **-111-217-447
Philippines (USDmn) -21-56.697
Total (Ex China USDmn)-2362-270615928
* Northbound Stock Connect Flows
** Data Up To Apr 15th
*** Data up to Apr 11th
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  • China equities flows have been mixed recently with an outflow of 2.80b yuan on Tuesday, there has been little direction as CSI300 failed to break above the 3,600 mark, although over the past few days there has been a divergence between small-cap and large-cap indices. On Tuesday China's GDP data show a strong beat coming in at 5.3% vs 4.8% although Industrial Production and Retail Sales data missed estimates. Equity flow momentum is flat, with the 5-day average now -0.83b, 20-day average at 0.21b and the longer term 100-day average now just 0.38B yuan.
  • Taiwan equities saw another day of outflows with a -$1.34b leaving the market marking the fourth straight day of selling by foreigners for a total of about $2.8b. The Taiex was down 2.28% on Monday and now off 4.70% over the past week after failing to break the 20,800 level and now trades below the 20-day EMA at 19,900. The 5-day average is now -$554m, vs the 20-day at -$309m both well below the longer-term trend of $134m
  • South Korea equities have now marked three straight days out net selling by foreign investors and the largest outflow since 15th March, with $305m leaving the market. The Kospi is now off 6.40% from recent highs, and has broken below the 20, 50 & 100-day EMA, sellers are in control with the 14-day RSI now at 34.50. The 5-day average to $87m, the 20-day average to $284m and the 100-day average to $181m.
  • Philippines equities broke below the 6,800-mark Apr 5th, a level that had acted at support for the prior month or so, the PSEi is now off 9.42% from its highs made on Apr 2nd and broke through the support zone of 6,600 on Monday, the index now trades down at 6,400. Equity flows have been negative for 8 straight days for a total outflow of -$87m. The 5-day average is -$11m, the 20-day average is -$8.25m, while the $1.47m.
  • Indonesia returned from a long break on Tuesday and foreign investors have continued selling equities, with a $151m outflow, marking the 10th straight session out outflows for a total of $860m the JCI is now down 5.20% from recent cycle highs. The 5-day average is now -$128m, the 20-day average is -7m, while the longer term 100-day average is still positive at $14.7m
    • Table 1: EM Asia Equity Flows


YesterdayPast 5 Trading Days2024 To Date
China (Yuan bn)*-2.8-4.258.2
South Korea (USDmn)-30643713809
Taiwan (USDmn) -1335-27731846
India (USDmn)**-3883021339
Indonesia (USDmn) -152-640950
Thailand (USDmn)***-50243-1666
Malaysia (USDmn) **-111-217-447
Philippines (USDmn) -21-56.697
Total (Ex China USDmn)-2362-270615928
* Northbound Stock Connect Flows
** Data Up To Apr 15th
*** Data up to Apr 11th