Tech related outflows dominated at the end of last week, with last week seeing over $5bn in net outflows from South Korea. This was the most since 2021. Taiwan's $1.2bn in net outflows on Friday, bringing outflows to over $3.5bn for last week. The early focus this week is on a possible end to the US government shutdown, which is boosting US equity futures and having a positive spill over to the Asia Pac region. The Kospi is up over 2%, with additional support coming from reports that the National Pension Service may increase its allocation to domestic stocks, while onshore media also reported from the weekend that the top tax rate on dividend income will be cut to 25% from 35%. If broader risk sentiment stabilizes there is scope for reduced outflow pressures from South Korea. So far today, there has been modest net inflows form offshore investors.
Table 1: Asian Markets Net Equity Flows
| Yesterday | Past 5 Trading Days | 2025 To Date | |
| South Korea (USDmn) | -272 | -5049 | -1648 |
| Taiwan (USDmn) | -1215 | -3559 | 1287 |
| India (USDmn)* | -307 | -1454 | -16761 |
| Indonesia (USDmn) | 55 | 207 | -2318 |
| Thailand (USDmn) | -84 | -39 | -3056 |
| Malaysia (USDmn) | -11 | -20 | -4179 |
| Philippines (USDmn) | 84 | 77 | -675 |
| Total (USDmn) | -1750 | -9837 | -27348 |
| * Data Up To Nov 6 |
Source: Bloomberg Finance L.P./MNI
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Below is the week’s data schedule, with MNI’s annotation of whether or not data will be postponed.
