Asian equities face biggest foreign outflows in March in 2 years

A man walks past a screen showing stocks index outside the Taiwan Stocks Exchange in Taipei on March 8, 2022. (AFP)

Asian equities witnessed steep foreign outflows in March, hit by worries over higher inflation as commodity prices soared due to an escalating conflict between Russia and Ukraine.

According to Refinitiv data, cross-border investors sold Asian equities worth a net $16.23 billion in Taiwan, India, South Korea, the Philippines, Vietnam, Indonesia, and Thailand in the last month, the highest outflows since net selling of $33.32 billion in March 2020.