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STOCKS NEWS ASEAN-Outflows continue on Fed; Indonesia leads
June 24, 2013 / 8:48 AM / 4 years ago

STOCKS NEWS ASEAN-Outflows continue on Fed; Indonesia leads

Foreign investors continued selling Southeast Asian equities in
June, with Indonesia leading as offshore investors rushed for
the exits due to a rise in U.S. treasury yields and concern over
the Federal Reserve's plan to scale back monetary stimulus.
    Indonesia suffered $1.95 billion foreign outflows
through to Friday in June with net foreign selling of $495
million in the week ended on June 21. 
    Thailand witnessed $400 million outflows last week,
extending its net offshore selling to $1.46 billion for the
month up to Friday.
    Analysts said foreign investors have been taking profits in
the Southeast Asian regional markets since the last week of May,
mainly due to the unwinding of the U.S. dollar carry trade and
redemption of foreign investments. 
    At 0831 GMT, the Philippine main index was down 3.4
percent, the Thai SET index was down 1.6 percent and
Jakarta's Composite Index had lost 1.7 percent.
    
Net foreign buying (or selling, in brackets)
    (Millions of US dollars)
                       MTD* June 17-21    May     YTD*   2012
 Malaysia             (971)    (284)    1,268   4,815     n/a
 Thailand           (1,461)    (400)    (169)  (2,188)  2,506
 Indonesia          (1,948)    (495)     (36)       8   1,636
 Philippines          (338)     (43)     462    1,745   2,693
 Vietnam               (34)     (36)      61      214      60
 
    *YTD = year to date *MTD = month to date
    Source - Thomson Reuters, stock exchanges
    Singapore data is not available
($1 = 3.2035 Malaysian ringgits)

 (Reporting by Shihar Aneez; Editing by Prateek Chatterjee)

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