Foreigners turned net buyers of Asian shares in November

By Gaurav Dogra and Patturaja Murugaboopathy

(Reuters) - Foreigners were net buyers of Asian equities in November, data from seven regional stock exchanges showed, as investors were optimistic that Sino-U.S. trade tensions would ease and the U.S. Federal Reserve would hike interest rates fewer times next year.

Foreigners net bought stocks worth $2.4 billion in November, the highest since a $7.1 billion inflow in January, stock exchange figures from South Korea, Taiwan, India, Thailand, Philippines, Indonesia and Vietnam showed.

During November, investors had expected a breakthrough in high-profile talks between U.S. and Chinese leaders, seen as key to easing tensions in a damaging trade war.

 

Early this month, U.S. President Donald Trump and Chinese counterpart Xi Jinping agreed to a 90-day truce on further tariffs until further agreement was reached.

Separately, Federal Reserve Chair Jerome Powell's remarks that U.S. interest rates were "just below" neutral bolstered views the central bank would stop raising rates sooner than previously expected.

India and Philippines received the highest inflows, of $848 million and $706 million, respectively.

So far this year, foreigners have sold a net $33.1 billion in Asian equity markets, the data showed.

(Reporting by Gaurav Dogra and Patturaja Murugaboopathy; Editing by Sai Sachin Ravikumar)