The Taiwanese benchmark stock index is down 3% from its 2023 high hit on March 7, while South African debt spreads climbed to 399 basis points, the widest in over five months. Korean stocks posted nearly $1 billion outflows, while debt from Indonesia, India and Hungary saw outflows of over $400 mln each so far this month. India stocks have seen net inflows of more than $2 billion, with the bulk of it coming on March 2, the data show. The $4.5 billion in net outflows from EMs in the first half of the month compares to inflows of $22.9 billion in February and $66 billion in January. (Reporting by Rodrigo Campos; Editing by Aurora Ellis)
NEW YORK, March 15 (Reuters) - Foreign investors
reversed the flow of funds in emerging markets in the first half
of March, with the exit speed increasing on the back of
uncertainty around bank sector stress, data from the Institute
of International Finance showed on Wednesday
Concern over sticky inflation and higher rates in the United
States earlier in the month was met with angst over the sudden
collapse of U.S.-based Silicon Valley Bank last week, triggering
a run to safety assets.
High frequency data show foreigners have pulled some $4.5
billion net from EM portfolios, including $2.8 billion from
Taiwan stocks and $1.7 billion from South Africa debt
securities.
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