In August, overseas investors sold off $3.8 billion in Asian tech stocks, reversing two months of net purchases amid concerns over overvaluation and doubts about AI profitability. Taiwan and South Korea, key hubs for AI chip manufacturing, saw significant outflows of $4.2 billion and $2.1 billion, respectively. Indian markets saw mixed results, with $873 million in net inflows from new issues but $662 million in outflows from exchange-traded stocks due to high valuations. Meanwhile, Vietnam and Thailand faced continued outflows, while Indonesia and the Philippines attracted foreign inflows of $1.85 billion and $144 million, respectively.
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