Foreign funds boost Asia investments to 5-year high on weaker US dollar

Singapore

OVERSEAS buying of emerging Asian equities and bonds surged to the highest level in five years in March, as a weaker US dollar and hopes major economies will make a deal on averting global currency wars soothed investors.

Inflows into Asia ex-China stocks and local currency debt jumped to US$22 billion during the month, about two-thirds into the shares and the rest into debt, according to data from Deutsche Bank's Asia macro-strategy team. It said February had net outflows of US$3.9 billion.