Foreigners turn net buyers of Asian equities in June after 4 months

By Gaurav Dogra and Patturaja Murugaboopathy
July 8 (Reuters) - Foreign investors turned net buyers of
Asian shares in June for the first time in five months, as
easing coronavirus restrictions and a surge in global liquidity
helped by stimulus measures by major central banks bolstered
risk appetite.
Overseas investors purchased $4.4 billion worth of regional
equities last month, data from stock exchanges in India,
Indonesia, the Philippines, South Korea, Taiwan, Thailand and
Vietnam showed.
They sold $52.84 billion worth of money in those markets
over the previous four months.
"The size of the outflows previously, which was the largest
since the global financial crisis, likely means foreign
investors are now underweight the region," said Khoon Goh, head
of Asia research at ANZ.
"A period of inflows is typically seen after such an event."

Indian equities led the region with inflows of $2.89
billion last month, its highest since November 2019, as the
country emerged out of coronavirus-induced lockdowns last month.
However, the country has recorded $377 million in outflows
so far this month due to a rapid increase in coronavirus
infections in recent weeks.
With over 700,000 cases, India overtook Russia as the third
most COVID-19 affected country globally and is just behind the
United States and Brazil. Semiconductors and tech exporter Taiwan received inflows
worth $2.83 billion last month on rising demand for
telecommuting products as millions of people globally were
forced to work at home. "Taiwan is well positioned to benefit from the post-pandemic
tech opportunities, thanks to its leading role in global
semiconductor fabrication, established semiconductor supply
chain, and strong technology and investment capabilities," DBS
Bank said in a report.
Vietnamese equities also received $651 million in inflows
last month.
On the other hand, South Korean equities witnessed an
outflow of $705 million, much smaller than $3.3 billion in May.
Thailand, and Indonesia also faced some meagre outflows last
month.

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