June 10 (Reuters) - Asian equities are witnessing a surge in

foreign outflows in June as escalating Middle East hostilities

and a pullback in AI-linked technology stocks following

underwhelming results by Broadcom ( AVGO ), prompt investors to trim

exposure.

Foreign investors have withdrawn a net $27.08 billion from

regional stocks so far this month, exceeding the combined net

outflow of $24.08 billion in May, LSEG data covering exchanges

in South Korea, Taiwan, Thailand, India, Indonesia, Vietnam and

the Philippines showed.

The MSCI Asia Pacific Index hit a record 284.05

last week but lower-than-anticipated second-quarter earnings

from chipmaker Broadcom ( AVGO ) and Meta's fundraising

plans pressured the hot technology sector. The index is down

4.34% so far this month.

"The recent pullback highlights concentration risk in

technology and AI-related stocks," said Linh Tran, a market

analyst at XS.com.

"These moves show that AI and semiconductor stocks remain a

key pillar of market leadership, but also represent the biggest

source of risk if growth expectations begin to be repriced,"

XS.com's Tran said.

South Korea and Taiwan - regional AI-hardware and chip

exporters - lead the outflows, with a net $12.63 billion and $8

billion of foreign sales so far this month. Foreigners sold

$27.88 billion of South Korean stocks but bought $8 billion of

Taiwan shares in May.

Indian equities have also seen net foreign outflows of $5.91

billion this month, compared with $3.45 billion of selling in

May.

The Reserve Bank of India held its benchmark interest rate

steady last week but cut growth forecasts to 6.6% from 6.9% and

raised core inflation projections to 4.7% from 4.4% for the

current fiscal year.

Elsewhere, foreigners sold Indonesian and Philippine stocks

worth $571 million and $29 million, but bought Thai and

Vietnamese stocks of $55 million and $5 million, respectively.

"Despite renewed anxiety over rates, equity issuance, and

geopolitics, we expect the rally to resume," said Mark Haefele,

chief investment officer at UBS Global Wealth Management.

"Although tech stocks have come under pressure in recent

days amid concerns about whether expectations can be met,

business fundamentals remain strong."