The weaker US dollar over the past week has helped emerging markets stabilise according to the ANZ’s Strategy team but that doesn’t mean that money isn’t still flowing out at a rapid rate.
Tha ANZ notes that “in the week ending 19 February (USD1021m), though it was a second consecutive week of a slowdown in foreign selling. Outflows continued to be seen from both equities (USD809m) and bonds (USD212m), with China and Korea accounting for the bulk of the outflows from equities.”
Interestingly for Australia the data reinforces the Aussie dollar’s recent recovery with net buying of Australian stocks recently and less selling of Australian bonds.
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