Forex Flash: Emerging Asia funds reported large outflows - ANZ

FXstreet.com (Barcelona) - Khoon Goh, Senior FX Strategist at ANZ notes that AXJ funds reported total outflows of USD1.0bn, the largest since September 2012.

He notes that AXJ equity funds reported USD1.2bn of outflows and sentiment was weak across the board, with all countries reporting greater outflows/lower inflows. China reported its largest ever weekly equity outflow on our records, totaling USD0.7bn. Further, he sees that Bond inflows eased to USD253m from USD340m a week earlier. Total EM bond inflows remain steady at USD633m. Local currency funds continue to attract greater inflows than hard currency funds; suggesting sentiment toward local currencies remains resilient. Additionally, he notes that global weekly equity inflows fell to just USD271m, its lowest level since Sep 2012. EM funds saw greater outflows, while inflows into DM funds declined.