Foreigners cash out of key Asian emerging markets before US Fed meet

Foreigners are cutting and running in some key Asian emerging markets amid turbulent trading ahead of this week’s US Federal Reserve meeting, where policymakers are expected to signal an interest-rate lift-off in March.

Overseas funds have sold a net $3.1 billion worth of shares in Taiwan, South Korea, and India so far this week, according to the latest available data compiled by Bloomberg. That follows $4.9 billion of withdrawals last week — the largest since August.

“Coupled with the rise in geopolitical risks (Russia–Ukraine) that may keep energy costs high in the near term, risks are fairly high for now