Emerging market outflows pick up

Foreign investors sold emerging market stocks in November at the fastest pace in eight months, turning overall portfolio flows negative for the first time since April, banking trade group data shows.

- RODRIGO CAMPOS

Nonresident flows to emerging market portfolios showed a net outflow of $3.9 billion last month after a $20.5-billion inflow in October, according to the Institute of International Finance.

Equity selling reached $18.9 billion, the largest withdrawal since March, while debt attracted $15 billion of inflows.

November's reversal in stock flows comes on the heels of a strong October, when equities outside China saw their highest monthly inflow in nearly two years.