US Tariff War Continues to Impact Asian Equities With Net Outflows of US$6.73 Billion - MIDF

KUALA LUMPUR, March 17 (Bernama) -- Foreign investors maintained a bearish stance on Asian equities, continuing to net sell for the third consecutive week, with a significant outflow totaling US$6.73 billion (US$1 = RM4.43), except for the Philippines, while local investors helped Bursa Malaysia (Malaysia’s Stock Exchange) to cushion the impact of the broader market outflows.

“The only country that recorded net foreign inflows was the Philippines, while other regional markets continued to experience outflows,” MIDF Amanah Investment Bank Bhd said in its Fund Flow Report titled “Tit for Tat: U.S. Tariffs Spark Global Retaliation” for the week ended March 14.

Taiwan recorded the highest net outflow for the third consecutive week, totalling US$3.80 billion as foreign investors aggressively offloaded shares, particularly its semiconductor foundry TSMC amid global concerns over chip stock valuations.

South Korea saw a net outflow of US$1.51 billion, India (-US$603.9 million), Thailand (-US$248.6 million), Indonesia (-US$225.7 million), and Vietnam -US$66.9 million.

Meanwhile, the local bourse saw foreign investors’ outflow of about RM1.34 billion or about US$302.4 million.

MIDF said analysts believe that while political tensions could introduce uncertainties in the Phillippines, the country’s continue to attract foreign investments.

-- BERNAMA