Oct 27 (Reuters) - Foreigners turned net sellers of Asia ex-China bonds in September as concerns mounted over the region's weaker growth outlook, slowing exports, and the U.S. Federal Reserve's aggressive tightening measures.
Overseas investors last month net sold a total $2.9 billion worth of bonds in India, Indonesia, Malaysia, South Korea and Thailand, data from regulatory and bond market associations showed.
Foreigners had been net buyers of Asian bonds in the previous two months.
Indonesian bonds and Thai bonds faced outflows worth $1.9 billion and $725 million respectively in the last month, while South Korean bonds had net sales of $681 million.
By contrast, Indian bonds received an inflow of $510 million in the month, the data showed.
The U.S. 10-year Treasury yields jumped 67 basis points in the last month, and were yielding 4.0632%.
"The external environment looks challenging into year-end, and further portfolio outflows are likely, as U.S. yields and the USD head higher and weigh on asset markets in Asia," said Khoon Goh, head of Asia research at ANZ in a report on Thursday.
(Reporting By Patturaja Murugaboopathy and Gaurav Dogra in Bengaluru; editing by Barbara Lewis)
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October 27, 2022 at 04:26PM
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