Overseas investors bought a net US$2 billion of stocks in markets including India, South Korea and Taiwan this week, according to the latest available exchange data compiled by Bloomberg, excluding China. That puts them on course for their biggest weekly purchases since early June.
"A softening in the US dollar over the past week has brought some stability to local currencies, and some inflows into EM markets, which has helped support a tentative recovery in stocks,” said Marvin Chen, an analyst at Bloomberg Intelligence. "Whether this will continue may depend on the tone of next week’s expected Fed hike or signs that the US is moving past peak inflation,” Chen said.In South Korea, the benchmark Kospi Index has jumped 2.7% this week, heading for its best performance since early February. Hedge fund J&J Investments Co. is increasing its position in Naver Corp. and other tech shares on expectations the nation’s equity market will stage a recovery from a brutal first half.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: DailyExpress_MY - 🏆 3. / 83 Read more »
Source: staronline - 🏆 4. / 75 Read more »