GRAPHIC-Asian equities lure foreign money for second straight month in July

By Gaurav Dogra and Patturaja Murugaboopathy
Aug 11 (Reuters) - Foreign investors were net buyers of
Asian shares for a second straight month, helped by a recovery
in regional economic activity and a surge in demand for
technology shares.
Overseas investors bought a net $1.2 billion worth of
regional equities last month, compared with a $4.4 billion in
June, data from stock exchanges in India, Indonesia, the
Philippines, South Korea, Taiwan, Thailand and Vietnam showed.
MSCI's broadest index of Asia-Pacific shares .MIAP00000PUS
rose 4.29% last month, thanks to a 12.8% surge in technology
shares.
"Ample global liquidity, a recovery in Asia's growth pulse
and a broadly contained pandemic situation in the region have
supported the inflows," said Khoon Goh, head of Asia research at
ANZ, in a note.
"The weaker USD has also been supportive of Asian asset
prices."
Tech reliant South Korean equities received a net $725.6
million in inflows last month, while Taiwanese shares attracted
$189.39 million worth of foreign money.
Indian shares saw an inflow of $ 1.02 billion, the highest
in the region, despite concerns over a surge in COVID-19 cases.

On the other hand, Thailand shares recorded outflows worth
$315.3 million in June, marking the eleventh straight month of
net foreign selling, while the Philippines witnessed its ninth
consecutive outflow of $124 million.
In the Philippines, infections surged nearly seven-fold to
more than 136,000, while deaths more than doubled since the
lockdown was lifted in June, prompting authorities to reimpose
curbs in and around Manila last week. Indonesian and Vietnamese shares also faced some outflows
last month.
"We are seeing a mixed picture," said Jingyi Pan, a
Singapore-based market strategist at financial services firm IG.
"Broadly, Asia markets outside of China are expected to see
recovery improve into the end of year that may find investors
cautiously returning to the market."

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Foreign investments in Asian equities https://tmsnrt.rs/33MmkFT
Asian countries' daily new coronavirus cases https://tmsnrt.rs/33Krpyw
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