Foreigners pull record US$5b as Southeast Asian stocks sink
Foreign investors are selling Southeast Asian stocks at the fastest pace on record as the region’s economic outlook worsens and the US gets closer to raising interest rates.
Overseas funds unloaded a net US$5.1 billion (S$7.28 billion) of Indonesian, Thai and Philippine shares in the third quarter as the MSCI Southeast Asia sank 21 per cent. The combined outflows are poised to be the largest since Bloomberg began collecting the data in 1999.
