Foreign Investors Return After Sell-Off In Tech Stocks

• South Korea: South Korean equities saw inflows of $269m yesterday, although we still have a net outflow of $642m over the past five trading days. The inflows on Tuesdays were mainly into the Transport equipment sector. The 5-day average outflow is $128m, compared to the 20-day average inflow of $123m and the 100-day average inflow of $113m. Year-to-date, South Korea has experienced substantial inflows totaling $18.964b.
• Taiwan: Foreign investors ended their run of heavy selling on Taiwanese stocks on Tuesday with an inflow of $290m, although still a net outflow of $4.506b over the past five trading days. Taiwan equity markets will be closed today due to Typhoon Gaemi. 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 inflows of $998m yesterday, contributing to a net inflow of $2.418b over the past five trading days. Since the election results were confirmed, we have seen 28 of 30 sessions of inflows, the Nifty 50 is up 4%$ over the past month. The 5-day average inflow is $484m, higher than the 20-day average inflow of $320m and significantly higher than the 100-day average outflow of $51m. Year-to-date, India has experienced inflows totaling $5.062b.
• Indonesia: Indonesian equities recorded outflows of $5m yesterday, resulting in a net inflow of $42m over the past five trading days, foreign investors flows have been mixed recently as the IDR continues to slip, the JCI is up 6.26% over the past month. The 5-day average outflow is $14m, below the 20-day average outflow of $8m and close to the 100-day average outflow of $9m. Year-to-date, Indonesia has experienced outflows totaling $127m.
• Thailand: Thailand saw a $2m inflow on Tuesday, after returning from a break on Monday and had a net inflow of $63m over the past five trading days. The SET is one of the worst performing markets in the region this year and trades just off yearly lows at 1.301.5, 1 only breaking below 1,300 once earlier this month, focus will be on if we can hold above it. The 5-day average inflow is $13m, better than the 20-day average outflow of $13m and the 100-day average outflow of $24m. Year-to-date, Thailand has seen significant outflows amounting to $3.289b.
• Malaysia: Malaysian equities experienced inflows of $32m yesterday, contributing to a 5-day net inflow of $76m. The 5-day average inflow is $15m, higher than the 20-day average inflow of $15m and the 100-day average outflow of $3m. Year-to-date, Malaysia has experienced inflows totaling $173m.
• Philippines: Philippine equities saw inflows of $8m yesterday with a 5-day net inflow of $68.5m. The 5-day average inflow is $14m, 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 $446m.

Table 1: EM Asia Equity Flows