Tech Stocks See Inflows, While Outflows Continue In Indonesia

• South Korean equities were slightly higher on Tuesday, flows have been mixed over the past few days although still positive with a net inflow of $275m. It's a public holiday in SK today. The 5-day average has dropped due to a strong inflow 6 days and is now just $55m, still above the 20-day average of $41m although both sit well below the 100-day average at $181m.
• Taiwan equities were again higher on Monday, with the Taiex closing at all-time-highs, tech and semiconductor names are leading the way. There is nothing on the local calendar this week, with focus turning to US CPI later tonight. Foreign investors have been buyers of Taiwanese equities recently with the past five-day seeing an inflow of about $1b. The 5-day average is now $205m well above the 20-day average of -$65m and the 100-day average at $75m.
• Thailand equities edged slightly higher on Tuesday with the SET breaking back above the 50-day EMA a level that we have been really unable to hold above over the past year. Equity flow has been mixed over the past week, although positive for the past two days with the 5-day average now at $0.4m, the 20-day average -$7.9m, while the 100-day average is -$17m.
• Indonesian equities continue to see foreign investors selling stocks, we are now at 25 of the past 27 days of selling for a net outflow of $1.84b. The JCI finished Tuesday session down 0.30% and closed below the 200-day EMA while the 14-day RSI trades below 50 at 42, and the MACD indictor shows increasing red bars. The 5-day average is now -$72m in line the 20-day average at -$69m while the 100-day average is still positive at $4.5m
• The Indian Nifty 50 has now marked 8 straight days of net selling from foreign investors with a net outflow of $2.9b as of May 13th. We have however seen the index bounce right off the 100-day EMA, which could show signs of a turnaround in flows over the next few days. The 5-day average now -$494m, the 20-day average is -$268m while the 100-day average is still positive but declining quickly and sits at $30m.

Table 1: EM Asia Equity Flows