Massive Net Buying By Foreigners In APAC

In emerging Asia ex. China and Malaysia, yesterday’s net foreign buying of $0.8 billion turned out to be the single biggest day for net foreign buying since April 2014, notes Credit Suisse. Sakthi Siva and King Nang Chik said in their “APAC Equity Strategy” report that they continue to be Overweight the cheapest four markets: MSCI China, Korea, Taiwan and Singapore. Yesterday’s relief buying in APAC after substantial selling by foreigners Siva and Chik term it “a pleasant surprise” when net foreign buying of $789 million was logged in Emerging Asia ex. China and Malaysia on Sept. 16, after the net foreign…