July 26, 2024 00:31 GMT
Foreign Investors Continue Selling Local Tech Stocks
ASIA STOCKS
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- South Korea: South Korean equities saw outflows of $592m yesterday, contributing to a net outflow of $1.056b over the past five trading days, the Kospi is down 2.58% over the same period with major Tech names such as Samsung (-4.74%) & SK Hynix (-9.31%) contributing the most to the sell off. The 5-day average outflow is $211m, compared to the 20-day average inflow of $55m and the 100-day average inflow of $100m. Year-to-date, South Korea has experienced substantial inflows totaling $18.157b.
- Taiwan: The local market was closed Wednesday &Thursday due to a Typhoon, expect heavy selling to resume once the market reopens after the Philadelphia SE Semiconductor Index has fallen 7.34% during the Typhoon outage and now off 15.59% from all time highs made on July 7th. The 5-day average outflow is $901m, higher than the 20-day average outflow of $380m and the 100-day average outflow of $77m. Year-to-date, Taiwan has experienced outflows totaling $2.855b.
- India: Indian equities saw outflows of $419m yesterday, flows have almost entirely been positive since the Indian Elections the past 5-days have seen an inflow of $1.216b. The 5-day average inflow is $243m, slightly below the 20-day average inflow of $270m and significantly higher than the 100-day average outflow of $48m. Year-to-date, India has experienced inflows totaling $4.458b.
- Indonesia: Indonesian equities recorded inflows of $24m yesterday, leading to a net inflow of $2m over the past five trading days, flows have been mixed recently with no trend emerging. The 5-day average is $0m, below the 20-day average inflow of $10m and close to the 100-day average outflow of $11m. Year-to-date, Indonesia has experienced outflows totaling $125m.
- Thailand: Thailand saw an outflow of $6m yesterday, resulting in a net inflow of $50m over the past five trading days with the SET down 2.50% over the same period. The 5-day average inflow is $10m, better than the 20-day average outflow of $10m and the 100-day average outflow of $27m. Year-to-date, Thailand has seen significant outflows amounting to $3.285b.
- Malaysia: Malaysian equities experienced outflows of $80m yesterday the largest outflow since May 31st, contributing to a 5-day net outflow of $67m. The 5-day average outflow is $13m, lower than the 20-day average inflow of $11m and the 100-day average outflow of $4m. Year-to-date, Malaysia has experienced inflows totaling $85m.
- Philippines: The Philippines saw outflows of $4m yesterday, resulting in a net inflow of $53m over the past five trading days. The 5-day average inflow is $11m, better than the 20-day average inflow of $4m and the 100-day average outflow of $6m. Year-to-date, the Philippines has seen outflows totaling $449m.
Table 1: EM Asia Equity Flows
Yesterday | Past 5 Trading Days | 2024 To Date | |
South Korea (USDmn) | -592 | -1056 | 18157 |
Taiwan (USDmn)** | 290 | -4506 | -2855 |
India (USDmn)* | -419 | 1216 | 4458 |
Indonesia (USDmn) | 24 | 2 | -125 |
Thailand (USDmn) | -6 | 50 | -3285 |
Malaysia (USDmn) | -80 | -67 | 85 |
Philippines (USDmn) | -4 | 53 | -449 |
Total | -786 | -4308 | 15986 |
* Up to 24th July | |||
** Closed due to Typhoon |
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