IRAN: US Tsy Freezes Crypto Funds Tied To Iran - FoxNews

Korea's fully priced AI / tech stocks were under pressure last week with falls of 9-11% for some, with outflows from stocks intensifying at the same time.  The big two AI / tech heavy bourses in Korea and Taiwan saw heavy outflows to end the week.  Year to data out flows are growing rapidly also as India follows suit.  In the last five trading days for the countries we follow, over US$16bn of outflows occured from stocks.  

Arguably the Indian market may be best able to withstand these outflows.  Remembering back to 2025 - under severe tariff pressure - the Indian market saw significant and constant outflows (US$18.7bn for the year) similar in nature to the current trend whereas Taiwan and Korea were in the midst of their AI /tech euphoria with strong inflows.   

This may ultimately see a greater negative impact on TW and SK in the near term.  

Whilst negative, Indonesia is negative unsurprisingly with the challenges facing the economy and the issues with ratings agencies/index providers.  The year to date outflows of US$1.8bn now exceed the total outflows for all of 2025.  

Malaysia and Thailand remain the mini safe haven for now with modest but regular inflows.

Repo rates have remained steady following and following a period of relatively consistent outflows, the PBOC has injected for a third consecutive day and its largest injection since mid February.  

• The PBOC issued CNY269.5bn of 7-day reverse repo at 1.4% during this morning's operations.
• Today's maturities CNY8bn of 7-day reverse repo
• Net liquidity injection of CNY261.5bn.
• The PBOC monitors and maintains liquidity in the interbank system through the issuance of reverse repo.
• The CFETS Pledged Repo Deposit Institutions 7 Day Weighted is at 1.40%, from prior close of 1.43%.
• The China overnight interbank repo rate is at 1.30%, from the prior close of 1.30%.
• The China 7-day interbank repo rate is at 1.40%, from the prior close of 1.44%.