Foreign Investors Dump Asian Equities As Stock Rout Continues

• South Korea: South Korean equities experienced an outflow of $711m yesterday the 2nd session in a row of greater than $700m in outflows, we have now seen a net outflow of $1.279b over the past five trading days. The 5-day average outflow is $256m, compared to the 20-day average outflow of $80m and the 100-day average inflow of $86m. Year-to-date, South Korea has had substantial inflows totaling $17.271b.
• Taiwan: Taiwan saw an outflow of $1.984b yesterday, leading to a net outflow of $5.505b over the past five trading days. It has been the worst quarter for Taiwan equities since Q2 2022. The 5-day average outflow is $1.101b, compared to the 20-day average outflow of $791m and the 100-day average outflow of $198m. Year-to-date, Taiwan has experienced outflows totaling $11.244b.
• India: Indian equities had an outflow of $402m Friday, resulting in a net outflow of $1.193b over the past five trading days. The 5-day average outflow is $239m, compared to the 20-day average inflow of $120m and the 100-day average outflow of $51m. Year-to-date, India has seen inflows totaling $3.513b.
• Indonesia: Indonesian equities recorded an outflow of $31m yesterday, leading to a net inflow of $129m over the past five trading days. The 5-day average outflow is $26m, below the 20-day average inflow of $16m and close to the 100-day average outflow of $13m. Year-to-date, Indonesia has had inflows totaling $37m.
• Thailand: Thai equities saw an outflow of $2m yesterday, resulting in a net outflow of $49m over the past five trading days. The 5-day average outflow is $10m, better than the 20-day average outflow of $2m and the 100-day average outflow of $25m. Year-to-date, Thailand has had significant outflows amounting to $3.338b.
• Malaysia: Malaysian equities had an outflow of $76m yesterday, resulting in a 5-day net outflow of $19m. The 5-day average outflow is $4m, which is better than the 20-day average inflow of $7m and the 100-day average outflow of $1m. Year-to-date, Malaysia has experienced inflows totaling $58m.
• Philippines: The Philippines had an outflow of $11m yesterday, resulting in a net outflow of $25m over the past five trading days. The 5-day average outflow is $5m, compared to the 20-day average inflow of $2m and the 100-day average outflow of $7m. Year-to-date, the Philippines has seen outflows totaling $482m.

Table 1: EM Asia Equity Flows