July 4 (Reuters): 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.
Market optimism was further fuelled by a surge in global AI-linked firms, enhancing demand for tech and semiconductor exports from Asia.
Foreign investors bought a net $7.16 billion worth of regional equities, according to stock exchange data from South Korea, India, Taiwan, Indonesia, Vietnam, Thailand, and the Philippines.
U.S. inflation held steady in May, aligning with economists' forecast, a Commerce Department report indicated last week. Fed Chair Jerome Powell said on Tuesday that the U.S. is back on a "disinflationary path", reinforcing expectations about forthcoming rate cuts.
Asian stocks draw robust foreign inflows
FE Team | Published: July 05, 2024 00:05:53
Asian stocks draw robust foreign inflows
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