Taiwan Continues To See Inflows On Strong Tech Demand, Asia Mixed

• South Korean equity markets were closed on Wednesday. Looking back over the past week, flows have been relatively subdued when compared to Taiwan both markets largely follow each other when global tech stocks are preforming well, but Taiwan has seen $1.6b in foreign investors inflows compared to just $275m for South Korea. Looking ahead, tomorrow we have unemployment rate which is expected to be unchanged at 2.8%.
• Taiwan equities were again higher on Monday, with the Taiex closing at all-time-highs, tech and semiconductor names continue to lead the way. Calendar has been empty all week, US announced tariffs on Chinese semiconductor imports which has been positive for the non-Chinese semiconductor names. Foreign investors have been buyers of Taiwanese equities recently with the past five-day seeing an inflow of about $1.6b. The 5-day average is now $333m well above the 20-day average of -$39m and the 100-day average at $82m.
• Thailand equities edged lower on Wednesday after briefly trading above the 50-day EMA on Tuesday, we now sit just under both the 20 & 50-day EMAs. Equity flow has been mixed over the past week with a net outflow of $30m over the past 5 sessions. The 5-day average now at -$6m, the 20-day average -$16.5m, while the 100-day average is -$18m.
• Indonesian equities continue to see foreign investors selling stocks, we are now at 26 of the past 28 days of selling for a net outflow of $1.85b. The JCI finished the Wednesday session up 1.36% and was able to close back above the 20, 100 & 200-day EMAs, while the 14-day RSI ticked back above 50 and the MACD indictor is now showing increasing green bars. We have seen a slowing down in outflows the past two session with the 5-day average now -$59m in slightly above the 20-day average at -$67m while the 100-day average is still positive at $4.5m
• Indian equities have seen foreign investors sell stocks for the 9th straight session with a net outflow of $3.25b over that same period. We did however see the Nifty 50 bounce right off the 100-day EMA. The 5-day average now -$483m, the 20-day average is -$235m while the 100-day average is still positive but declining quickly and sits at $28m.

Table 1: EM Asia Equity Flows