Emerging markets attracted $17.9 billion in capital flows in October, up from $7.5bn in September, boosted by an improved outlook for the global economy, the outperformance of the technology sector and increased debt issuance, according to the Institute of International Finance (IIF).
Debt flows of $11.6bn, mostly to China and Asia, accounted for most of the portfolio flows with strong external issuance across emerging markets as governments and corporates raised more money, the IIF said.
"Emerging markets are on track for record sovereign and private external issuance this year," the Washington-based institute said. "Sovereign bond issuance by emerging markets in the third quarter slowed from the second quarter but the year-to-date data is high enough to allow a year of record issuance."
The increase in capital inflows slowed towards the end of the month, however, as markets became more volatile.
"Renewed concerns regarding a second wave of the pandemic as well as uncertainty arising from the US election, have limited the lift-off towards the end of the month," the IIF said in a November 1 report.
Flows to bonds issued locally have generally been weak, it added.
Equities accounted for $6.3bn of total inflows, given their sensitivity to political risk and uncertainty stemming from the upcoming US election.
In terms of geography, IIF data shows debt and equity inflows across all regions. Asia and Latin America were the best performers with inflows of $11.2bn and $3.9bn, respectively.
Uncertainty around the US election outcome and heightened restrictions across Europe due to a rise in the number of Covid-19 cases have made global investors nervous. The VIX index, which tracks market volatility, grew in value by 44 per cent over the course of the last month.
More than 46 million people have been infected by the virus globally and over 1.2 million have died from Covid-19, according to Worldometer. The US leads the world with more than 9 million cases and 230,000 deaths.
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1. Henri Schoeman (RSA) 57:03
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5. Jacob Birtwhistle (AUS) 57:40
6. Joao Silva (POR) 57:45
7. Jonathan Brownlee (GBR) 57:56
8. Adrien Briffod (SUI) 57:57
9. Gustav Iden (NOR) 57:58
10. Richard Murray (RSA) 57:59
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3. Large black holes can also be formed when smaller ones collide and merge
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5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed
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The biog
From: Upper Egypt
Age: 78
Family: a daughter in Egypt; a son in Dubai and his wife, Nabila
Favourite Abu Dhabi activity: walking near to Emirates Palace
Favourite building in Abu Dhabi: Emirates Palace
The biog
Age: 59
From: Giza Governorate, Egypt
Family: A daughter, two sons and wife
Favourite tree: Ghaf
Runner up favourite tree: Frankincense
Favourite place on Sir Bani Yas Island: “I love all of Sir Bani Yas. Every spot of Sir Bani Yas, I love it.”
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Second Test
Pakistan v Australia, Tuesday-Saturday, 10am daily at Zayed Cricket Stadium, Abu Dhabi
Entrance is free
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Director: Ismael Ferroukhi
Stars: Zakaria Inan, Sabrina Ouazani
3 stars
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Director: John Madden
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Children who witnessed blood bath want to help others
Aged just 11, Khulood Al Najjar’s daughter, Nora, bravely attempted to fight off Philip Spence. Her finger was injured when she put her hand in between the claw hammer and her mother’s head.
As a vital witness, she was forced to relive the ordeal by police who needed to identify the attacker and ensure he was found guilty.
Now aged 16, Nora has decided she wants to dedicate her career to helping other victims of crime.
“It was very horrible for her. She saw her mum, dying, just next to her eyes. But now she just wants to go forward,” said Khulood, speaking about how her eldest daughter was dealing with the trauma of the incident five years ago. “She is saying, 'mama, I want to be a lawyer, I want to help people achieve justice'.”
Khulood’s youngest daughter, Fatima, was seven at the time of the attack and attempted to help paramedics responding to the incident.
“Now she wants to be a maxillofacial doctor,” Khulood said. “She said to me ‘it is because a maxillofacial doctor returned your face, mama’. Now she wants to help people see themselves in the mirror again.”
Khulood’s son, Saeed, was nine in 2014 and slept through the attack. While he did not witness the trauma, this made it more difficult for him to understand what had happened. He has ambitions to become an engineer.
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