IIF: Emerging markets hit by worst outflows since Trump election
LONDON, Aug 29 (Reuters) - Investors have pulled $13.8 billion from emerging markets so far in August, the most since Donald Trump's U.S. Presidential election win in November 2016, Institute of International Finance data showed on Thursday.
"The resurgence of the trade conflict, combined with increased fears of a global slowdown have been catalysts for the ongoing EM [emerging markets] portfolio reversal," IIF said.
The August exodus saw investors haul just over $14 billion from EM stocks and though bonds saw a most $300 million inflow of money, there were still large outflows in some countries.
Somewhat surprisingly China equities saw a $1.5 billion gain the IIF added. But the growing fears of a global recession and a lengthy trade conflict saw $15.6 billion yanked out not including China.
(Reporting By Tom Arnold; editing by Marc Jones)
((Tom.Arnold@thomsonreuters.com; +44275428510; Reuters Messaging: tom.arnold.thomsonreuters.com@reuters.net))
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