Further contributions to the overall drop in non-resident flows to Asia-6 stem from South Korea (-US$12bil) and Malaysia (US$5bil), while Thailand is projected to see a small increase in inflows, the IIF says.
Among emerging-market (EM) economies, six Asian countries have stood out as major benefactors of foreign capital flows in recent years.
Calling these countries the Asia-6, comprising Malaysia, Indonesia, Thailand, India, South Korea and the Philippines, the Institute of International Finance (IIF) says they are taking up an increasingly important place on the EM investment map.
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