The largest US-listed exchange-traded funds tracking single Asian countries, from India to Taiwan, suffered record outflows in March, just ahead of a massive rebound in the region’s equities on the first day of April.
Traders yanked a record $1.4 billion in March from BlackRock’s $6.7 billion iShares MSCI India ETF, known by its ticker INDA, according to data compiled by Bloomberg. The firm’s $7 billion iShares MSCI Taiwan ETF, or EWT, also saw a record redemption of $1.1 billion last month, the data show.
The withdrawals point to growing strain across energy-centric Asia, with India hit by currency weakness, rising yields and profit concerns, and Taiwan’s export-heavy manufacturing base facing rising cost pressures. Still, Asian stocks jumped the most in nearly a year on Wednesday after President Donald Trump suggested he is keen to exit the Middle East conflict sooner rather than later, underscoring how quickly sentiment can shift with each turn in the war.
