Emerging Asia Hit by Biggest Foreign Investor Exodus Since 2008
- Stock fund outflows so far this year only exceeded by 2008
- Philippine, Thai central banks will meet this week on policy
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A falling tide lowers all boats, it seems. Amid an exodus from emerging markets, investors are pulling out of even Asian economies with solid prospects for growth and debt financing.
Overseas funds are pulling out of six major Asian emerging equity markets at a pace unseen since the global financial crisis of 2008 -- withdrawing $19 billion from India, Indonesia, the Philippines, South Korea, Taiwan and Thailand so far this year, according to data compiled by Bloomberg.