S'pore leads Asian investors in fleeing Wall Street in Q2

Singapore

GREECE scared the wits out of global investors on Wall Street in the second quarter of the year.

Led by Singapore-based investors, Asians dumped a net US$14.75 billion of US stocks - almost half of the net total which fled the US that quarter, as Greece stood on the verge of a default in payment to the International Monetary Fund.

Only the Europeans, with the British accounting for over half of the total, got rid of a bigger chunk of the US equities - a net US$17.69 billion worth of them

Overall, foreign investors took off with US$35.35 billion in net sales in the April-June quarter, up sharply from US$12.99 billion in the previous quarter…