Asian equities see foreign inflows in November on tech boost

Asian equities see foreign inflows in November on tech boost

7/12/2021 9:17:00 AM

Asian equities see foreign inflows in November on tech boost

Asian equities witnessed money inflows in November as demand for regional semiconductor products boosted foreign buying in South Korean and Taiwanese markets, although concerns over recovery amid the spread of the Omicron variant capped regional inflows. Cross-border investors last month purchased e

Asian equities witnessed money inflows in November as demand for regional semiconductor products boosted foreign buying in South Korean and Taiwanese markets, although concerns over recovery amid the spread of the Omicron variant capped regional inflows.

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Cross-border investors last month purchased equities worth a net US$2.04 billion in South Korea, Taiwan, the Philippines, Vietnam, Indonesia and India, compared with net selling of US$6.05 billion in October, data from regional stock exchanges showed.

Foreign investments in Asian equities https://fingfx.thomsonreuters.com/gfx/mkt/movanqjbrpa/Foreignper cent20investmentsper cent20inper cent20Asianper cent20equities.jpgSouth Korea and Taiwanese equities attracted inflows worth US$3.04 billion and US$676 million, respectively. headtopics.com

South Korean exports in November grew at their fastest pace in three months due to a post-pandemic recovery in major trading partners, while Taiwan's exports climbed to a new high in October.Philippine equities also saw marginal inflows of US$5 million.

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"The inflows into South Korea and Taiwan may be underpinned by the rally in the broader semiconductor industry," said Jun Rong Yeap, a Singapore-based market strategist at IG.However, regional equities faced fresh headwinds by the end of last month after a rise in infections from the new Omicron variant raised uncertainties about global economic recovery momentum.

"Some risk-off mood may drive foreign outflows from Asian equities, considering that previous upside has been built upon positive developments on economic reopening in the region," Yeap said.Offshore investors sold Indian equities worth US$790 million last month, marking a second straight month of outflows. Vietnamese equities witnessed outflows for a fourth consecutive month, worth US$393 million.

Thai and Indonesian equities also faced outflows of US$300 million and US$204 million, respectively."Inflation data continues to surprise on the upside putting more pressure on tapering. In that regard, we might see renewed outflows from Asia," said Alicia Garcia Herrero, chief Asia Pacific economist at investment firm Natixis SA. headtopics.com

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The U.S. Federal Reserve is likely to accelerate the taper of its bond-buying programme and lift rates as soon as mid-2022 in order to address stalled workforce growth and inflationary risks.(Reporting by Gaurav Dogra in Bengaluru; Editing by Sherry Jacob-Phillips)

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