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- Emerging market asset classes have performed one way or the other. Seeing the rally in Chinese stock index one might say it is not year of the goat but bull.
- Despite rampant currency depreciation in the developed market as well as in emerging markets Indian currency has actually appreciated close to a percent against dollar this year so far.
However fundflows are telling a different story.
Despite dovish comments from FED officials investors are taking out billions from equities across emerging Asia.
- According to Financial Times and latest data from EPFR, global funs statistics provider, last week investors withdrew another $ 2.36 billion from emerging Asia equity fund, after pulling out $1.54 billion and $ 2.4 billion in previous weeks.
Investors remain worried about currency risks associated and fear that it might get exacerbated in the event of rate rise by Federal Reserve in US.
- In spite of successive rise in stock market, China accounted for bulk of the outflow.
- China and Korea are the two economies seeing bulk of the outflow this year.
On the contrary, developed market's equities are seeing massive inflow.
German equities have so far seen more than $ 30 billion inflow.
Even Japan is experiencing similar fund inflow, after last to last week's $1.06 billion, investors pumped in another $ 2.4 billion in equities last week.
