Foreign investors in Asian shares turn net sellers in October

(Reuters) - Foreign investors net sold Asian stocks, except in South Korea, in October as uncertainty over the Nov. 8 U.S. presidential election and prospects of an interest rate hike as early as next month dampened sentiment.

South Korean markets saw $258 million of net inflows while Thailand, India, Indonesia and Taiwan saw outflows of $516 million, $644 million, $174 million and $68 million, respectively.

Asia FII flows (http://tmsnrt.rs/2ecw2UJ)

Context:

MSCI's broadest index of Asia-Pacific shares outside Japan fell by 1.7 percent in October - its first monthly fall in five months.

South Korea has the second lowest forward P/E ratio of 10.1 in the Asia-Pacific region, according to Thomson Reuters StarMine.

 

The dollar index rose 3.1 percent in October - its biggest gain in 11 months.

(Compiled by Patturaja Murgaboopathy & Gaurav S Dogra; Editing by Vyas Mohan)