FX Insights: Foreign Exchange - Asia ex-Japan

Research evidence excerpt

FX Insights: Foreign Exchange - Asia ex-Japan

Global Markets Research

15 June 2026FX Insights

Foreign Exchange - Asia ex-Japan

Research AnalystsStrong inflows into US equities despite weakness

Asia FX Strategyin stock prices

Craig Chan - NSL

• Foreign inflows into US-focused funds remained strong at USD3.6bn between 5 and craig.chan@nomura.com

11 June, predominantly into equity funds. +65 6433 6106

Wee Choon Teo - NSL • Inflows into US-focused equity funds totaled USD4.2bn between 5 and 11 June – the weechoon.teo@nomura.com

strongest five session inflow since the start of the year. +65 6433 6107

• Outflows from EM-focused ETFs amounted to USD468mn between 5 and 11 June, Vicky Chen - NSL

from inflows of USD83mn in the previous week. vicky.chen1@nomura.com

+65 6433 6540

• Korea’s retail investors net bought USD527mn of US portfolio assets between 8 and

12 June, partly reversing outflows of USD810mn in the previous week. Manthan Shingala - NSL

manthan.shingala1@nomura.com

• Taiwan's investors net sold USD794mn of USD-denominated bond funds between 5 +65 6433 6427

and 11 June, and compared with net selling of USD334mn in the previous week.

Fig. 1: Summary of flows into US securities

Foreign investments in US- Taiwan investments

EM-focused ETFs Korea retail investments

focused funds (ETF and MF) in local ETFs

US Equity US USD-denominated

USD mn US Bonds Total Bond funds Total US Bonds Total

Equities funds Equities Bonds

Latest week (5 sessions) 4,172 -561 3,611 -156 -312 -468 804 -277 527 -794

Previous week (previous 5 sessions) 2,863 87 2,950 -284 368 83 -794 -16 -810 -334

Monthly flow in June 7,088 -496 6,592 -449 -216 -665 10 -293 -283 -1,063

Monthly flow in May 8,770 769 9,539 2,434 51 2,485 -940 372 -568 176