Foreign investors in Asian shares turn net sellers in October

Tuesday, 8 November 2016 00:01 - - {{hitsCtrl.values.hits}}

Reuters: Foreign investors net sold Asian stocks, except in South Korea, in October as uncertainty over the 8 November US presidential election and prospects of an interest rate hike as early as next month dampened sentiment.

South Korean markets saw $ 258 million of net inflows while Thailand, India, Indonesia and Taiwan saw outflows of $ 516 million, $ 644 million, $ 174 million and $ 68 million, respectively.

MSCI’s broadest index of Asia-Pacific shares outside Japan fell by 1.7% in October – its first monthly fall in five months.

South Korea has the second lowest forward P/E ratio of 10.1 in the Asia-Pacific region, according to Thomson Reuters StarMine.

The dollar index rose 3.1% in October – its biggest gain in 11 months.