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Funds Flee Southeast Asia Stocks as Vaccine Push Gets Urgent

  • Thai, Philippine, Malaysia stock outflows hit $2.7 billion
  • Virus restrictions delaying economic recovery: JPMorgan AM
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Foreign Funds Flee Asian Equities
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Foreign funds are rushing out of Southeast Asian equities on concerns a coronavirus resurgence will dent the region’s economic recovery, and a slow vaccine rollout means the selloff may not reverse anytime soon.

Thailand, the Philippines and Malaysia had combined outflows of $2.7 billion from their equities in the April-June period, the biggest exodus since the quarter ended September 2020, according to data compiled by Bloomberg. Funds bought the countries’ bonds instead due to attractive yields.