Investors exit US ETFs that track EMs
Worries over China slowdown and the prospect of rate hike spark US$6b pullout in third quarter
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New York
TRADERS dumped exchange-traded funds (ETFs) tracking emerging market (EM) stocks at the fastest pace in over a year last quarter amid concerns over the slowdown in China, a selloff in commodities and the prospect of higher interest rates in the US.
Investors pulled US$6.1 billion from US-traded ETFs that offer exposure to a basket of developing-nation equities in the three months through September, the most since the first quarter of 2014, according to data compiled by Bloomberg.
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