SINGAPORE -- Capital has started to pour out of Asian emerging markets as coronavirus outbreaks slow the region's economic recovery while investors price in the likelihood of interest rate hikes in the U.S. and Europe.
International investors sold $500 million more stocks and bonds than they bought in Asian emerging markets in May, according to the Institute of International Finance. It marks the first net outflow since December last year. When the data excludes China, whose economy bounced back quickly from its first COVID-19 crisis, the outflows jump to $10.8 billion.
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