Foreign investors withdrew more money from emerging Asian equities in 2022 than they had done in any year since the global financial crisis in 2008, as rising U.S. interest rates pulled funds towards dollar assets.
After four straight 75-basis point hikes earlier in 2022, the U.S. Federal Reserve raised its overnight borrowing rate by another 50 basis points in December. Graphic: Yearly foreign investment flows: Asian equities - https://fingfx.thomsonreuters.com/gfx/mkt/xmvjkkmnzpr/Yearly%20foreign%20investment%20flows-%20Asian%20equities.jpg
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