GRAPHIC-Asian equities except India see outflows in Oct on U.S. election jitters

By Gaurav Dogra and Patturaja Murugaboopathy
Nov 4 (Reuters) - Foreign investors turned net buyers of
Indian equities as slowing COVID-19 cases boosted hopes of a
faster economic recovery from pandemic lows, while other Asian
equities faced outflows on caution ahead of the U.S.
presidential election.
According to stock exchange data, Indian shares witnessed
inflows worth $2.66 billion in October, after seeing an outflow
of about $1 billion in the previous month.
On the other hand, South Korea, Taiwan, Philippines,
Thailand, Indonesia and Vietamese equities faced a combined
outflow of $2.3 billion, the data showed.
Over the past month, India's benchmark Nifty index .NSEI
has risen about 4%, compared with MSCI Asia ex-Japan index's
.MIAPJ0000PUS gain of 2.9%.
The expected increase in India's weight in the MSCI's global
indexes also helped inflows into India last month, said Radhika
Rao, economist at DBS Bank. equities, which have shed 22.7% this year to mark the
biggest fall among major world stock indexes, witnessed an
outflow of $700 million in October on concerns over the ongoing
anti-government protests. Overall, investors were wary ahead of the U.S. presidential
elections, as the prospect of no immediate winner in the race
would adversely affect regional markets and risk sentiment
"The base case scenario of a Democratic sweep, as indicated
by opinion polls, would intuitively be positive for risk assets,
one that goes hand-in-hand with further foreign inflows for
Asia," said Jingyi Pan, a Singapore-based market strategist at
financial services firm IG.
"That said, there exists risks given potentially prolonged
indetermination of the results due to early voting and also a
possibility of contest of the results."
U.S. President Donald Trump has repeatedly refused to commit
to a peaceful transfer of power if the vote count indicates he
has lost to Democratic challenger Joe Biden. Share markets veered higher in wild Asian trading on
Wednesday as results from the U.S. presidential election proved
far closer than polls had predicted, leaving the outcome deeply
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Foreign investments in Asian equities https://tmsnrt.rs/2TKml6Z
India's daily cases https://tmsnrt.rs/3er8vji
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