July 1, 2019 / 2:49 PM / 23 days ago

Portfolio flows to emerging markets at highest in five months in June -IIF

LONDON, July 1 (Reuters) - A turnaround in equity flows helped propel foreign flows to emerging-market securities to $40.8 billion in June, their highest level in five months, according to the Institute of International Finance (IIF).

It said the inflows were robust, particularly in light of the trade tensions that dominated markets for much of the month. Dovish shifts by central banks in the United States, Europe and Japan may have helped revive the search for yield.

China and the United States have agreed to resume trade talks, Presidents Xi Jinping and Donald Trump said on Saturday, helping to stimulate appetite for riskier assets.

The IIF said last week that a sharp rebound in flows to China and other emerging markets could signal investors expect a benign outcome to the trade row.

Equity flows to emerging markets reached $12.6 billion in June, mainly due to a recovery in Chinese equities, IIF said. Debt flows into emerging markets registered their highest reading in five months at $28.2 billion, mainly because of inflows to emerging markets in Asia.

Reporting by Tom Arnold, editing by Larry King

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