Equity Flow Momentum Slows, After Equity Rally

• South Korea: South Korean equities saw inflows of $192m yesterday, contributing to a net inflow of $2.07b over the past five trading days, the Kospi is up 2.82% over the same period The 5-day average inflow is $415m, higher than the 20-day average of $246m and the 100-day average of $133m. Year-to-date, South Korea has experienced substantial inflows totaling $19.06b.
• Taiwan: Taiwanese equities had inflows of $166m yesterday, contributing to a net inflow of $730m over the past five trading days while the Taiex is up 4.04% over the same period. The 5-day average inflow is $146m, higher than the 20-day average of $121m and the 100-day average of $9m. Year-to-date, Taiwan has accumulated inflows of $3.87b.
• India: Indian equities experienced inflows of $19m Monday, contributing to a net inflow of $1.22b over the past five trading days. Indian equities have seen just two sessions of outflows post the election, with the nifty 50 up 14.8% from the lows made during vote counting. The 5-day average inflow is $245m, lower than the 20-day average of $283m but significantly higher than the 100-day average outflow of $-28m. Year-to-date, India has seen net inflows of $1.52b.
• Indonesia: Indonesian equities recorded inflows of $1m yesterday, contributing to a net inflow of $113m over the past five trading days. The 5-day average outflow is -$23m, close to the 20-day average inflow of $10m and the 100-day average outflow of -$7m. Year-to-date, Indonesia has experienced outflows totaling -$273m.
• Thailand: Thai equities saw outflows of -$25m yesterday, resulting in a net inflow of $30m over the past five trading days. The 5-day average inflow is $6m, close to the 20-day average outflow of -$35m and higher than the 100-day average outflow of -$26m. Year-to-date, Thailand has seen significant outflows amounting to -$3,27b.
• Malaysia: Malaysian equities experienced inflows of $10m Monday, contributing to a 5-day net inflow of $93m. The 5-day average inflow is $19m, higher than the 20-day average outflow of -$2m and the 100-day average outflow of -$3m. Year-to-date, Malaysia has experienced outflows totaling -$79m.
• Philippines: Philippine equities saw no inflows or outflows yesterday, with a 5-day net inflow of $10.3m. The 5-day average inflow is $2m, better than the 20-day average outflow of -$3m and the 100-day average outflow of -$7m. Year-to-date, the Philippines has seen outflows totaling -$521m.

Table 1: EM Asia Equity Flows