ASIA STOCKS: Another Strong Week of Inflows for Major Markets  

May-23 01:35

Asia’s major markets are staring at another strong week of inflows with almost $2bn recorded to yesterday. 

  • South Korea: Recorded outflows of -$202m yesterday, bringing the 5-day total to -$187m. 2025 to date flows are -$11,542. The 5-day average is -$37m, the 20-day average is +$61m and the 100-day average of -$120m.
  • Taiwan: Had inflows of +$108m yesterday, with total inflows of +$1,292m over the past 5 days. YTD flows are negative at -$10,342. The 5-day average is +$258m, the 20-day average of +$443m and the 100-day average of -$117m.
  • India: Had inflows of +$266m as of the 21st, with total inflows of +$746m over the past 5 days.  YTD flows are negative -$10,013m.  The 5-day average is +$149m, the 20-day average of +$238m and the 100-day average of -$116m.
  • Indonesia: Had inflows of +$38m as of yesterday, with total inflows of +$126m over the prior five days.  YTD flows are negative -$2,853m.  The 5-day average is +$25m, the 20-day average +$9m and the 100-day average -$33m.
  • Thailand: Recorded inflows of +$43m as of yesterday, inflows totaling +$42m over the past 5 days. YTD flows are negative at -$1,671m. The 5-day average is +$8m, the 20-day average of -$9m the 100-day average of -$16m.
  • Malaysia: Recorded outflows of -$49m as of yesterday, totaling -$40m over the past 5 days. YTD flows are negative at -$3,174m. The 5-day average is -$21m, the 20-day average of +$35m and the 100-day average of -$22m.
  • Philippines: Saw outflows of -$9m as of yesterday, with net outflows of -$42m over the past 5 days. YTD flows are negative at -$259m. The 5-day average is -$8m, the 20-day average of +$1m the 100-day average of -$3m.
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Historical bullets

CNH: USD/CNY Fixing Higher, But Error Term Rewidens On USD Bounce

Apr-23 01:25

The USD/CNY fix printed at 7.2116, versus a BBG market consensus of 7.3417. 

  • Today's fix saw a re-widening of the error term to -1301pips from -818pips yesterday. This fits with higher USD index levels over the past 24 hours.
  • The actual fix was still below recent highs, which rest at 7.2133.
  • USD/CNH dipped to lows of 7.2922 earlier, but sits back around 7.3050 in latest dealings. We saw earlier support for CNH following comments from US President Trump that the final tariff rate on China would be lower than the 145% that currently prevails. 

MNI: CHINA PBOC CONDUCTS CNY108 BLN VIA 7-DAY REVERSE REPO WEDS

Apr-23 01:22
  • CHINA PBOC CONDUCTS CNY108 BLN VIA 7-DAY REVERSE REPO WEDS

US TSY FLOWS: Block BUY: USM5

Apr-23 01:20

2800 of USM5 traded at 114-22, post-time 01:25:20 BST (DV01 $353,492). The contract is currently dealing at 114-12, +0-25 from closing levels.