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.
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.
"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
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)Read more: CNA »
Young anglers spreading message of sustainable fishing through social media and workshops
SINGAPORE — In a minute-long clip on social media platform TikTok, a presenter explains why it is okay to catch and keep hybrid groupers caught in Singapore waters.
Cryptocurrencies post net inflows last week, but outflows seen on Friday - CoinSharesNEW YORK : Cryptocurrency products and funds received US$184 million in net inflows as of last week, data from digital asset manager CoinShares showed on Monday.Friday's price weakness, however, did lead to US$40 million outflows that day, CoinShares said. For the year, total inflows amounted US$9.1 billi
Thailand detects first case of Omicron variantThe confirmed case in the man, who had arrived on Nov. 29, makes Thailand the 47th country to have found the new variant, Opas Karnkawinpong, Director-General of the Department of Disease Control, told a news conference. 'This first confirmed case of Omicron variant is a 35-year-old man who is a U.S. citizen who lived in Spain for a year,' Opas said adding that the patient had mild symptom. Opas said health authorities were conducting further tests of people who had come into contact with the man, but said all contacts so far were low risk.
China's November coal imports at highest in 2021BEIJING : China's coal imports hit their highest level of 2021 in November, as the world's biggest consumer of the dirty fuel scrambled to feed its power system as the winter heating season kicked in.The country brought in 35.05 million tonnes of coal last month, up from 26.94 million tonnes in October, d
Jail for 2 foreign love scammers who tricked Singaporean women into becoming money mulesSINGAPORE — After pretending to fall in love with Singaporean women online and gaining their trust, Awolola Gbolahan Ayobami and Awolola Oladeyo Opeyemi would recruit them as money mules in their transnational scam syndicate.
Myanmar foreign minister visits Cambodia after Aung San Suu Kyi sentencingPHNOM PENH: Myanmar's military-appointed foreign minister, Wunna Maung Lwin, held talks in Cambodia on Tuesday (Dec 7), a day after the junta drew global condemnation for sentencing deposed leader Aung San Suu Kyi to