Foreign Investors Selling Of Asian Equities Slows

• South Korea: South Korean equities saw outflows of $191m yesterday, contributing to a net outflow of $839m over the past five trading days. Foreign investors have been heavy sellers of tech stocks recently, particularly semiconductor names or any tech firm that sells a lot into China. The 5-day average outflow is $168m, significantly lower than the 20-day average inflow of $115m and the 100-day average inflow of $111m. Year-to-date, South Korea has experienced substantial inflows totaling $18.695b.
• Taiwan: Foreign investors continue to sell Taiwanese equities although at a slower rate with an outflow of $82m yesterday, resulting in a net outflow of $5.062b over the past five trading days. The 5-day average outflow is $1.012b, considerably higher than the 20-day average outflow of $406m and the 100-day average outflow of $84m. Year-to-date, Taiwan has experienced outflows totaling $3.144b.
• India: Indian equities saw inflows of $218m on Friday, contributing to a net inflow of $2.063b over the past five trading days. The 5-day average inflow is $413m, higher than the 20-day average inflow of $281m and significantly higher than the 100-day average outflow of $46m. Year-to-date, India has experienced inflows totaling $4.065b.
• Indonesia: Indonesian equities recorded inflows of $1m yesterday, resulting in a net inflow of $124m over the past five trading days. The 5-day average outflow is $8m, below the 20-day average inflow of $17m and matching the 100-day average outflow of $8m. Year-to-date, Indonesia has experienced outflows totaling $121m.
• Thailand: Thailand was out on Monday for Asarnha Bucha Day. The 5-day average inflow is $10m, better than the 20-day average outflow of $15m and the 100-day average outflow of $25m. Year-to-date, Thailand has seen significant outflows amounting to $3.291b.
• Malaysia: Malaysian equities experienced outflows of $32m yesterday, contributing to a 5-day net inflow of $57m. The 5-day average inflow is $11m, higher than the 20-day average inflow of $12m and the 100-day average outflow of $3m. Year-to-date, Malaysia has experienced inflows totaling $140m.
• Philippines: Philippine equities saw inflows of $17m yesterday with a 5-day net inflow of $66.1m. The 5-day average inflow is $13m, better than the 20-day average inflow of $4m and the 100-day average outflow of $7m. Year-to-date, the Philippines has seen outflows totaling $453m.

Table 1: EM Asia Equity Flows