May 31, 2019 / 3:39 PM / 3 months ago

Emerging market stocks see biggest outflows since 'Taper Tantrum' - IIF

LONDON, May 31 (Reuters) - The return of worries over a global trade war has triggered the biggest outflows from emerging market stocks since the June 2013 ‘taper tantrum’, the Institute of International Finance estimated on Friday.

Emerging market stocks have tumbled nearly 10% since the sudden collapse of U.S.-China trade talks at the start of the month, and the IIF said $14.6 billion had been sucked out of them.

“May is poised to be the worst performing month for non-resident equity flows since the taper tantrum,” the IIF said, when almost $22 billion was yanked out of EM stocks at the sudden realisation the U.S. Fed wanted to end money printing.

In stark contrast to the stampede out of stocks, $9 billion has gone into emerging market bonds this month, although that was lower that the $24.2 billion that poured in during April, it added. (Reporting by Marc Jones; Editing by Helen Reid)

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