(Reuters) – Foreign investors sold Asian equities heavily in October on concerns over slowing earnings, higher U.S. interest rates and trade tensions between the United States and China.
Data from regional stock exchanges showed foreigners sold a net total of $14.54 billion in Taiwan, South Korea, India, Thailand, Philippines, Indonesia, and Vietnam equities in the last month.
Total - Years - Data
The total was the highest in at least 7 years, the data showed.
The outflows were led by Taiwan, South Korea and Indian equities, with each market seeing net sales of about $4 billion or more in the last month.
Run - Doors - Risk - Sentiment - Backdrop
“It is a run for the doors as risk sentiment was heightened on the backdrop of aggravated concerns over both trade tensions and tightening monetary conditions,” said Jingyi Pan, a Singapore-based market strategist at trading and investments provider IG.
The region’s growth worries were highlighted by the International Monetary Fund in the last month, which cut its projection...
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