Despite an overall inflow of funds into Asia ex-Japan last week, there was interestingly an outflow of money from China.
Citi’s Markus Rosgen:
Greater China an exception — According to EPFR, fund flows last week were generally positive in Asia, except for funds in Greater China (Fig. 1). Both China & Taiwan funds continued to experience money outflows: US$46mn from China and US$115mn from Taiwan. Hong Kong also took a hit this week with outflows of US$45mn.
As the China story slows, what’s interesting to many about other parts of Asia is that they are feeding off of China but don’t face a local government trying to cool the economy.
(Via Citi, Fun With Flows, Markus Rosgen, 13 September 2010)
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