Khoon Goh, Head of Asia Research at ANZ, notes that the foreign demand for EM Asia portfolio assets stayed robust in September, though the size of inflows has reduced.
“The exception is China bonds, where record foreign inflows ahead of the 1 October SDR inclusion pushed foreign ownership of CGBs to new highs.
With bond yields in major developed markets rising and a decent chance of a US rate hike in December priced in, portfolio flows into the region could turn more volatile for the remainder of the year.”
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