Foreign funds are rushing out of Southeast Asian equities on concerns a coronavirus resurgence will dent the region’s economic recovery, and a slow vaccine rollout means the selloff may not reverse anytime soon.
Thailand, the Philippines and Malaysia had combined outflows of $2.7 billion from their equities in the April-June period, the biggest exodus since the quarter ended September 2020, according to data compiled by Bloomberg. Funds bought the countries’ bonds instead due to attractive yields.
Investors’ expectations that vaccine rollouts will help reopen economies in Southeast Asia are being…
