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March foreign flows into Asian bonds the highest since January 2018

Reuters/Bengaluru 23 Apr 19 | 01:45 AM

Foreign inflows into Asian bonds surged in March as lower US yields and hopes for a Sino-US trade deal boosted demand for regional assets.

Overseas investors bought a net $5 billion of regional bonds in March, highest since January 2018, data from central banks and bond market associations in Malaysia, Thailand, Indonesia, South Korea and India showed.

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Indian and Indonesian bonds — the two with highest yields in the region — both received net foreign inflows of $1.7 billion in March.

Rising optimism that Prime Minister Narendra Modi will come back to power in India's over-a-month-long polls also bolstered foreign inflows into Indian bonds last month. However, there have been outflows so far in April as a sharp increase in crude oil prices has stoked concerns about India's fiscal position.

South Korea and Malaysian bonds also attracted net foreign buying, of $1.2 billion and $721 million respectively, in March.

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