Asian stocks draw foreign buyers after nine-month selloff
AAXJ•Foreign investors return to Asian stocks
Sept. 10 (Reuters) - Foreign investors returned to net buying of Asian stocks in August, ending a nine-month selling streak as AI-linked tech stocks attracted buyers following a sharp July selloff and a strong earnings season.
Foreign investors bought a net $4.72 billion of stocks in Taiwan, South Korea, India, Indonesia, Thailand, Vietnam and the Philippines last month, according to LSEG data. They added a further $1.52 billion to regional equities through Tuesday's close this month.
BNP Paribas sees North Asia favored by AI trade
"The return of the AI trade, improving technology earnings and cleaner positioning should favour North Asia, particularly Taiwan and selected Korean technology companies," BNP Paribas' Zhe said.
"Higher bond yields, oil prices and geopolitical risks may keep markets volatile, so we favour visible earnings upgrades and direct exposure to AI infrastructure."
