Asian bonds see foreign inflows for 6th straight month in November

Dec 16 (Reuters) - Asian bonds received inflows for the sixth consecutive month in November, helped by optimism over the development of a COVID-19 vaccine and hopes of a faster economic recovery in the region.

Asian bonds saw a combined total inflow of $1.5 billion last month, data from regional central banks and bond market associations in Indonesia, Malaysia, Thailand, South Korea and India showed.

Indonesian bonds had an inflow of $1.1 billion, the highest in the region, followed by Thailand which lured $941 million.

On the other hand, South Korea faced an outflow of $823 million last month. However, South Korean bonds still lead the regional inflows for the year at $21 billion for the first 11 months of 2020.

“We see the confluence of a relatively less severe virus situation, regional exports supported by improving global demand, and ample liquidity as a winning trifecta, all of which will underpin portfolio inflows to Asia in 2021,” said Khoon Goh, head of Asia Research at ANZ in Singapore.

Reporting By Patturaja Murugaboopathy and Gaurav Dogra; editing by Uttaresh.V