Flows Into Asian Equities Dominated By Tech Names

• South Korean equities were higher on Tuesday (Kospi up 0.72%, Kosdaq unchanged). Flows were above average with just a decent $466m inflow more than covering the $100m outflow on Monday. The past 5 session have now netted a total inflow of $3.14b. The 5-day average is $628m, above both the 20 day average of $18m and the longer-term 100-day average at $155m.
• Taiwan equities were higher on Tuesday with a strong inflow of $530m. The Taiex continues to make new all time highs. The past 5 session's seeing a total inflow of $1.5b with the 5-day average now $304m, above both the 20-day average at $20m, while the 100-day average is $45m.
• Thailand equities were slightly higher on Tuesday. Foreign investors continue to sell equities as we now have marked the 19 straight session of selling for a total outflow of $999m with $245m of that coming in the past 5 sessions. The 5-day average is now -$49m, below both the 20-day average at -$49m and the 100-day average at -$24.5m.
• Philippines equities were lower on Tuesday, and now trades at YTD lows. Foreign investors have been better sellers of equities recently, the past 5 sessions have seen a net outflow of $26.5m. The 5-day average is now -$5.3m, slightly above the 20-day average at -$10.45m, but inline with the long term average at -$5.62m

Table 1: EM Asia Equity Flows