Asian stocks draw massive foreign funds on China's reforms, AI surge

FILE PHOTO: A man wearing a face mask is seen inside the Shanghai Stock Exchange building at the Pudong financial district in Shanghai, China February 28, 2020. REUTERS/Aly Song/File Photo

FOREIGN investors poured substantial money into Asian equities in February amid a rebound in Chinese stocks following Beijing's rollout of reform measures and a surge in technology shares, driven by the artificial intelligence (AI) boom.

Data from stock exchanges in South Korea, Taiwan, Indonesia, India, the Philippines, Thailand and Vietnam showed foreigners purchased a net $10.82 billion worth of regional equities last month, after selling shares worth nearly $779 million in January.