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clementboey
2021-06-03

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Asian equities clock biggest foreign outflows since March 2020

June 3 (Reuters) - Asian equities in May clocked their biggest foreign outflows in 14 months due to

Asian equities clock biggest foreign outflows since March 2020

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Judgers
·2021-06-03
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Indonesia and India showed foreigners net sold a combined total of $12.05 billion in regional equities, the highest since March 2020.</p>\n<p>\"The outflows in May were driven by different reasons in different markets, but the common thread was COVID-19 resurgence,\" Manishi Raychaudhuri, Asia-Pacific equity strategist at <a href=\"https://laohu8.com/S/BNPQF\">BNP Paribas</a>, said.</p>\n<p>He said markets such as Taiwan, Thailand and India, which faced a resurgence in COVID-19 cases, were sold down by FIIs in anticipation of decline in consumption and cuts in earnings estimates.</p>\n<p>South Korea led outflows, seeing net sales of $7.97 billion last month on concerns over rising inflation, which has reinforced calls for gradual monetary tightening.</p>\n<p>Taiwan faced outflows worth $2.1 billion, with the sub-tropical nation dealing with its worst drought in history after no typoons directly hit the island last year, meaning much less rain.</p>\n<p>Thai and Indian equities saw net 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style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-06-03 14:24</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>June 3 (Reuters) - Asian equities in May clocked their biggest foreign outflows in 14 months due to a spike in COVID-19 cases in the region and as growing inflationary pressure tempered risk appetite.</p>\n<p>Data from stock exchanges in South Korea, Taiwan, Philippines, Thailand, Vietnam, Indonesia and India showed foreigners net sold a combined total of $12.05 billion in regional equities, the highest since March 2020.</p>\n<p>\"The outflows in May were driven by different reasons in different markets, but the common thread was COVID-19 resurgence,\" Manishi Raychaudhuri, Asia-Pacific equity strategist at <a href=\"https://laohu8.com/S/BNPQF\">BNP Paribas</a>, said.</p>\n<p>He said markets such as Taiwan, Thailand and India, which faced a resurgence in COVID-19 cases, were sold down by FIIs in anticipation of decline in consumption and cuts in earnings estimates.</p>\n<p>South Korea led outflows, seeing net sales of $7.97 billion last month on concerns over rising inflation, which has reinforced calls for gradual monetary tightening.</p>\n<p>Taiwan faced outflows worth $2.1 billion, with the sub-tropical nation dealing with its worst drought in history after no typoons directly hit the island last year, meaning much less rain.</p>\n<p>Thai and Indian equities saw net sales of $1.1 billion and $389 million, respectively.</p>\n<p>India's daily infection rates have been falling in recent weeks, offering hope that a devastating second week is ebbing.</p>\n<p>However, worries still linger, as just 3% of the country's population have been vaccinated so far, which is the lowest rates among the 10 countries with the most COVID-19 cases.</p>\n<p><a href=\"https://laohu8.com/S/BNPQY\">BNP Paribas</a>' Raychaudhuri said he expects foreign flows to improve selectively in a few Asian markets in the second half of 2021, particularly in Taiwan and South Korea.</p>\n<p>\"Korea and Taiwan should benefit in the medium-term as corporate earnings in both markets are strongly driven by global consumption revival – particularly that in the developed economies – a trend that we believe is likely to last for a while,\" he said.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PFE":"辉瑞"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2140447081","content_text":"June 3 (Reuters) - Asian equities in May clocked their biggest foreign outflows in 14 months due to a spike in COVID-19 cases in the region and as growing inflationary pressure tempered risk appetite.\nData from stock exchanges in South Korea, Taiwan, Philippines, Thailand, Vietnam, Indonesia and India showed foreigners net 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