Asian equities saw massive foreign capital outflows in April. This is mainly driven by the expectations of a hawkish policy by the U.S. Federal Reserve and concerns over the impact of China's lockdowns on regional growth.
Overseas investors offloaded Asian equities worth $14.22 billion in their fourth straight month of net selling, Refinitiv data for stock exchanges in Taiwan, India, South Korea, the Philippines, Vietnam, Indonesia, and Thailand showed.
The region's combined net foreign selling from January to April stood at $45.76 billion, the most in the first four months since at least 2008.
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