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Events / Business / EM equity outflows $46.1B in June
Business capital flows

EM equity outflows $46.1B in June

Analysis based on 6 articles · First reported Apr 20, 2026 · Last updated Jul 10, 2026

Sentiment
-30
Attention
4
Articles
6
Market Impact
General
Live prominence charts, article sentiment distribution, and event development timeline available on the Ergen Dashboard
Market Impact

The equity outflows signal reduced risk appetite for emerging markets, particularly tech-heavy Asian markets. However, continued bond inflows and strong sovereign issuance suggest investors remain selective, favoring debt over equity.

Financials Technology
Event Summary

In June, foreign investors pulled $46.1 billion from emerging market equities, led by record outflows from South Korea ($30.5B) and Taiwan ($18.3B), according to the Institute of International Finance. Bond inflows of $28.3B partially offset the equity exodus, resulting in net portfolio outflows of $17.8B. The IIF warned that a hawkish United States — Federal Reserve under Kevin Warsh and oil volatility could tighten dollar liquidity. China saw $14B in equity outflows, a sharp reversal from May's $8.1B inflow. Sovereign issuance remained strong at $170B in H1.

Key Actions
90 South Korea experienced outflows
85 Taiwan logged outflows
80 Institute of International Finance reported outflows
70 China experienced outflows
60 United States — Federal Reserve made policy shift
40 Mexico issued bonds
40 China issued bonds
30 Latvia issued bonds
30 Bahrain issued bonds
Entities Involved
cnt
South Korea
Record $30.5B equity outflows in June, the largest in over 25 years, driven by tech sector retreat.
Importance 90.0 Sentiment -40.0
cnt
Taiwan
Experienced $18.3B equity outflows, contributing significantly to the overall EM equity exodus.
Importance 80.0 Sentiment -35.0
ngo
Institute of International Finance
Published the monthly report detailing the capital flow data and provided analysis on EM trends.
Importance 70.0 Sentiment 0.0
cnt
China
Saw $14B equity outflows and $3.7B debt outflows, a sharp reversal from May's inflows, reflecting uncertainty.
Importance 70.0 Sentiment -30.0
cbnk
United States — Federal Reserve
Warned that a more hawkish stance under Kevin Warsh could tighten dollar liquidity and raise EM risk.
Importance 60.0 Sentiment -20.0
per
Jonathan Fortun
IIF chief economist who authored the report, highlighting investor caution and risks from Fed policy.
Importance 50.0 Sentiment 0.0
per
Kevin Warsh
New Fed chairman whose hawkish policy expectations are cited as a risk factor for EM.
Importance 40.0 Sentiment -10.0
cnt
Mexico
Issued international bonds in June, confirming market access for EM sovereigns.
Importance 30.0 Sentiment 10.0
cnt
Bahrain
Issued international bonds in June, contributing to the $170B H1 sovereign issuance.
Importance 20.0 Sentiment 5.0
cnt
Latvia
Issued international bonds in June, part of strong sovereign issuance activity.
Importance 20.0 Sentiment 5.0
Relationships
South Korea related ↔ Taiwan
South Korea related ↔ China
South Korea related ↔ United States — Federal Reserve
South Korea related ↔ Kevin Warsh
South Korea related ↔ Mexico
South Korea related ↔ Bahrain
Taiwan adversary ↔ China Taiwan faces constant military intimidation, airspace incursions, and diplomatic isolation campaigns from China, prompti
Taiwan related ↔ United States — Federal Reserve
Taiwan related ↔ Kevin Warsh
Taiwan related ↔ Mexico
Taiwan related ↔ Bahrain
China related ↔ United States — Federal Reserve
China related ↔ Kevin Warsh
China related ↔ Mexico
China related ↔ Bahrain
+ 6 more relationships View on Dashboard
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