ASIA STOCKS: Equity Flow Update for Major Regional Bourses
Outflows from India continue, as Taiwan has another day of inflows.
- South Korea: Recorded inflows of +$46m yesterday, bringing the 5-day total to +$179m. 2025 to date flows are -$5,427. The 5-day average is +$36m, the 20-day average is -$25m and the 100-day average of +$59m.
- Taiwan: Had inflows of +$296m yesterday, with total outflows of -$681 m over the past 5 days. YTD flows are positive at +$158. The 5-day average is -$136m, the 20-day average of -$145m and the 100-day average of +$185m.
- India: Had outflows of -$106m as of the 2nd, with total outflows of -$2,655m over the past 5 days. YTD flows are negative -$15,615m. The 5-day average is -$531m, the 20-day average of -$222m and the 100-day average of -$12m.
- Indonesia: Had outflows of -$84m yesterday, with total outflows of -$321m over the prior five days. YTD flows are negative -$3,308m. The 5-day average is -$64m, the 20-day average +$24m and the 100-day average -$13m.
- Thailand: Recorded inflows of +$58m yesterday, with outflows totaling -$75m over the past 5 days. YTD flows are negative at -$2,462m. The 5-day average is -$15m, the 20-day average of -$32m and the 100-day average of -$13m.
- Malaysia: Recorded inflows yesterday of +$41m, totaling -$167m over the past 5 days. YTD flows are negative at -$3,780m. The 5-day average is -$33m, the 20-day average of -$35m and the 100-day average of -$10m.
- Philippines: Recorded outflows of -$16m yesterday, with net outflows of -$56m over the past 5 days. YTD flows are negative at -$722m. The 5-day average is -$11m, the 20-day average of -$5m the 100-day average of -$5m.
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CHINA: PMI Services Records Large Gains
- China's S&P Global China PMI (formerly CAIXIN) came in ahead of expectations in July.
- Up at 52.6, it was material increase from June's result of +50.6 and estimates of +50.4.
- The result was the best since May 2024 with the employment index up to +50.9, from June's contraction.
- Prices charged rise vs the prior month in what will be welcome signs given the ongoing decline in CPI / PPI.
CHINA PRESS: Negative CPI Expected In July
China’s CPI is expected to reach 0.16% m/m in July, but fall to -0.45% y/y due to base effects, according to Ming Ming, chief economist at CITIC Securities. According to a CICC report, July’s CPI is anticipated to hit -0.2% y/y, weakening from 0.1% in June due to declining food prices. A Huachuang Securities report predicts a 0.4% m/m drop in food prices, mainly due to increased seasonal supply of fruit and decreased egg consumption, affected by higher production and hot, rainy weather. Regarding PPI, Ming Ming said the anti-involution strategy had increased the prices of major industrial products like steel, coal, and non-ferrous metals. July’s PPI is expected to rise 0.18% m/m and -2.79% y/y. (Source: Securities Daily)
CHINA PRESS: China Services Trade Up 8% Y/Y
China’s total value of service trade reached CNY3.8 trillion in H1, an increase of 8.0% y/y, of which exports totalled CNY1.6 trillion, up 15.0%, with imports reaching CNY2.1 trillion, up 3.2% y/y, data from the Ministry of Commerce showed. The service trade deficit stood at CNY510 billion, narrowing by CNY152.2 billion compared to the same period last year. Liu Xiangdong, deputy director at the China Center for International Economic Exchanges, said China’s service trade will likely maintain stable growth, especially in travel and knowledge-intensive sectors.
