Asian stocks draw robust foreign inflows on US rate outlook, tech rally

Quick Summary:

Foreign investors channelled massive money into Asian equities in June, after two months of selling, as easing U.S.price pressures raised hopes that the Federal Reserve would cut interest rates this year.

"Both (South Korea and Taiwan) have served as major beneficiaries from the ramp-up in AI investments," said Yeap Jun Rong, a market strategist at IG.

Market optimism was further fuelled by a surge in global AI-linked firms, enhancing demand for tech and semiconductor exports from Asia.

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Category: EconomyBusiness

Markets: SingaporeIndiaIndonesiaSouth KoreaPhilippinesTaiwanThailandVietnam

Topics: Markets Korea Billion Million Indian Investors Worth Asian Equities June Foreign

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-04 @ 16:37:21 (2 days ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 398 words

Reading Time: 3 minutes read

Sentences: 16 lines

Sentence Length: 25 words per sentence (average)

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Copyright Owner: © Channel News Asia

News ID: 21480551

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