Asian equities see foreign inflows for first time this year

By Reuters4 days ago

Reuters. FILE PHOTO: Currency dealers walk past an electronic board showing the Korea Composite Stock Price Index (KOSPI) at a dealing room of a bank in Seoul, South Korea, March 13, 2020. REUTERS/Kim Hong-Ji/File photo

By Gaurav Dogra

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(Reuters) - Overseas investors turned net buyers of Asian equities in April for the first time this year, helped by signs of economic recovery, with the region posting a strong rebound in manufacturing activity and exports.

The inflows, however, were modest as investors maintained a cautious stance amid risks thrown up by the coronavirus pandemic.

Foreigners were net buyers of a combined total of $367 million in South Korean, Taiwanese, Philippine, Thai, Vietnamese, Indonesian and Indian stocks last month, data from stock exchanges showed. That compares with an average monthly inflow of $3.7 billion in the second half of last year.

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