May 27, 2024 00:33 GMT
Equity Flows Largely Positive, SK Flows Start To Slow
ASIA STOCKS
- South Korean equity markets gapped lower on Friday and break back below the 20-day EMA, we found support at the 50-day EMA. Equity flows were negative on Friday although still positive over the past 5 trading sessions with $152 of net inflows. Focus this week will be Industrial Production on Friday. The 5-day average is now just $30m, below the 20-day average of $113m, and well down on the longer term 100-day average at $169m.
- Taiwan equities were a touch lower on Friday, flows were positive with a $316m inflow, Foreign investors have been better buyers recently, with the past 5 session seeing a total inflow of $1.62b. Focus this week will be on GDP on Thursday. The 5-day average now sits at $323m, below the 20-day average at $398m however both are well above the longer term 100-day average at $89m.
- Thailand equities were lower on Friday, are the SET is now trading below all moving averages, flows over the past 5 session have been negative for a total outflow of -$111m. Focus this week will be on BoP Current Account Balance on Friday. The 5-day average is now -$22m, below the 20-day average at -$4m and the 100-day average at -$18.5m.
- Indian equities were little changed on Friday, and trades near all time highs. Equity flows have been mixed recently, the past few session have seen inflows, ending a run of about 2 weeks of consistent outflow, the past 5 session have seen a total inflow of $390m. The 5-day average is now $77m, below both the 20-day average at -$141m and the 100-day average at $23m.
- Philippines equities were lower on Friday equity flow momentum has been mixed recently we have seen a net outflow of $8.8m over the past 5 sessions. The 5-day average is -$1.8m, above the 20-day average at -$14.9m, while slightly below the 100-day average of -$2.8m
- Malaysian equities were lower on Friday with Thursday marking the largest inflow since July 2023 flows over the past week have been positive for a total inflow of $213m. It's a quiet week for economic data in the region. The 5-day average now $42m, now above the 20-day average at $39m and well above the longer term 100-day average at $1.5m.
Table 1: EM Asia Equity Flows
| Yesterday | Past 5 Trading Days | 2024 To Date | |
| South Korea (USDmn) | -231 | 152 | 15376 |
| Taiwan (USDmn) | 316 | 1620 | 6089 |
| India (USDmn)* | 708 | 669 | -2599 |
| Indonesia (USDmn)** | 0 | -33 | -37 |
| Thailand (USDmn) | -23 | -111 | -1960 |
| Malaysia (USDmn) * | 101 | 214 | 120 |
| Philippines (USDmn) | 3 | -8.8 | -285 |
| Total | 874 | 2503 | 16703 |
| * Data Up To Apr 22nd | |||
| ** Public Holiday |
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