Asian stocks draw massive foreign inflows on softer dollar, growth optimism

Data from stock exchanges in Taiwan, India, the Philippines, Vietnam, Thailand, Indonesia and South Korea showed that foreigners purchased a net $8.8 billion worth of regional equities in January. They had sold $57.2 billion in regional equities last year.Also, China's decision to reopen its borders fuelled hopes that the region's factory activity and exports would be more potent this year, aiding their profits.

Taiwan and South Korea witnessed their biggest monthly purchases in at least two years, with net inflows amounting to about $6.6 billion and $5 billion, respectively. "Brewing expectations of an impending end to the Fed's rate-hike cycle are providing some support for rate-sensitive growth sectors," said Yeap Jun Rong, a market strategist at IG.

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