FX Insights: Foreign Exchange - Asia ex-Japan

Research evidence excerpt

FX Insights: Foreign Exchange - Asia ex-Japan

Global Markets Research

6 July 2026FX Insights

Foreign Exchange - Asia ex-Japan

Research AnalystsInflows into US equities in June strongest in more

Asia FX Strategythan a year

Craig Chan - NSL

• Foreign inflows into US-focused funds totaled USD2.1bn between 26 June and 2 July, craig.chan@nomura.com

with strong inflows into equity funds (USD3.8bn) being partly offset by outflows from +65 6433 6106

bond funds (-USD1.7bn). Wee Choon Teo - NSL

weechoon.teo@nomura.com

• Foreign inflows into US-focused equity funds in June (USD13.8bn) were at their +65 6433 6107

strongest since January 2025 (USD16.1bn) and momentum remains despite recent

Vicky Chen - NSL weakest in AI-related equities.

vicky.chen1@nomura.com

• Inflows into EM-focused ETFs slowed to USD246mn between 26 June and 2 July, +65 6433 6540

following inflows of USD1.8bn in the previous week. Manthan Shingala - NSL

• Korea’s retail investors net bought only USD21mn of US portfolio assets between 27 manthan.shingala1@nomura.com

+65 6433 6427 June and 3 July, down from USD49mn in the previous week.

• Taiwan's investors net sold USD975mn of USD-denominated bond funds between 26

June and 2July, after net buying of USD61mn 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) 3,843 -1,732 2,111 114 132 246 160 -139 21 -975

Previous week (previous 5 sessions) 1,503 -132 1,371 1,457 357 1,814 25 25 49 61

Monthly flow in June 13,784 -2,655 11,129 2,284 771 3,054 633 -167 466 -2,068