Foreigners sell $9 bln worth of Asian equities so far in March [Reuters (UK)]
DBS GROUP HLDGS LTD S/ADR (DBSDY)
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Source: Reuters
Foreigners sell $9 bln worth of Asian equities so far in March - Reuters 2 Min Read March 10 (Reuters) - Foreign investors are aggressively selling Asian equities this month amid worries of a deeper economic fallout from the coronavirus outbreak in the region. Overseas investors have sold a net $9 billion worth of regional equities so far in March, after offloading $5.6 billion last month, data from stock exchanges in India, Indonesia, Philippines, South Korea, Taiwan, Thailand, and Vietnam showed. Radhika Rao, an economist at DBS Bank, said the outbreak was expected to take an economic toll on the region given its proximity and strong trade and production linkages with China. “Travel bans have hit the tourism sector across the region, while supply chain disruptions within China will weigh on the export and manufacturing performance of export-dependent economies,” she said. Taiwanese equities saw the biggest foreign fund outflow in the region at $3.6 billion, while South Korea witness
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