Tech Stocks Continue To See Inflows, Regional Flows Mixed

• China equity market flows have been mixed recently. Friday saw an outflow of 6.3b yuan to take the total for the past 5 trading sessions to 4.84b yuan. Equity markets were little changed on Friday with the CSI300 up 1.72% over the past week, and closed the week comfortably above the 200-day EMA. Over the weekend we had CPI out coming in at 0.3% vs 0.2% expected and PPI at -2.5% vs -2.3% expected. The 5-day average is now 0.96b, slightly above the 20-day average at 0.84b and the 100-day average at 0.66b.
• South Korean equities edged higher on Friday, while foreign investors purchased stocks although at a rate below that current short term average. It was a relatively quiet session with little in the way of local headlines or data, tech names were the top performing. Flows were positive last week with a net inflow of $1.05b, the 5-day average is $210m, above the 20-day average of $70m and slightly higher than the 100-day average at $184m.
• Taiwan equities were higher on Friday, it was a quiet week for data out of Taiwan, with another quiet week to follow. Foreign investors were buyers of stocks on Friday although in less size than Thursday outflow, net flows for the past week were $950m. The 5-day average is now $190m well above the 20-day average of -$179m and the 100-day average at $67m.
• Thailand equities have been one of the worst performing markets in the region this year, the SET is currently just holding above the 20-day EMA levels, with a break below here opening up a move to retest the ytd lows. Equity flows have been negative over the short to long term, with the 5-day average now at -$16m, the 20-day average -$2.5m, while the 100-day average is -$18m.

Table 1: EM Asia Equity Flows