In Tokyo morning trade, JGB futures are weaker, -13 compared to settlement levels, and hover just ab...
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Asian markets saw an increase in equity outflow pressures yesterday. Tech sensitive plays, particularly Taiwan, saw the brunt of the selling pressure. For Taiwan, offshore investors have sold just over $3.8bn of local stocks in the last two sessions. For South Korea we have seen just over $1.6bn in net selling. Tech/AI valuation concerns continues to see tech equity indices struggle, although the MSCI IT index posted a small rise for Tuesday. The Kospi is up modestly in the first part of Wednesday trade, but offshore investors are still net sellers per the NBUY function on BBG.
Table 1: Asian Markets Net Equity Flows
| Yesterday | Past 5 Trading Days | 2025 To Date | |
| South Korea (USDmn) | -939 | -837 | -5654 |
| Taiwan (USDmn) | -2117 | -3238 | -7912 |
| India (USDmn)* | 64 | -591 | -17686 |
| Indonesia (USDmn) | -56 | 55 | -1602 |
| Thailand (USDmn) | -11 | -16 | -3273 |
| Malaysia (USDmn) | -33 | -97 | -4806 |
| Philippines (USDmn) | -7 | -44 | -844 |
| Total (USDmn) | -3098 | -4769 | -41777 |
| * Data Up To Dec 15 |
Source: Bloomberg Finance L.P./MNI
SELL 2945 of TYH6 traded at 112-15, post-time 11:40:25 AEST (DV01 $198,001). The contract closed at 112-16, -0-00+ from closing levels.
The overnight range was 102.45 - 103.04, Asia is currently trading around 102.60. The pair has held below the 102.90-103.00 area which it broke through yesterday. Risk has taken a leg lower in Asia on the Venezuelan news as a short oil market gaps 1% higher. On the day look for sellers to be around the 103.00-103.30 area, if price remains capped below here it implies there could be a deeper pullback towards the 101.50-102.00 support area.
Fig 1: AUD/JPY spot Daily Chart

Source: MNI - Market News/Bloomberg Finance L.P