Foreign investors pull out US$50 billion from Asian equities in October on AI, cash burn woes
They include stocks in South Korea, Taiwan, India, Indonesia, Thailand, Vietnam and the Philippines
Foreign investors pulled nearly US$50 billion out of Asian equities in October, marking the largest monthly outflow in four months. The sell-off was driven by concerns over hyperscalers' cash burn and fears of tougher artificial intelligence regulations ahead of the US midterm elections. The outflows were particularly pronounced in South Korea, Taiwan, and India, with investors withdrawing a net US$49.8 billion from these markets.
The trend continued into November, with foreigners offloading a further US$22.6 billion from these regions.
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