By Pan Tzu-yu and Frances Huang
Taipei, Feb. 23 (CNA) More funds for investment were remitted out of Taiwan than flowed into the country in the fourth quarter of 2018 for the 34th consecutive quarter, the longest run in the country’s history, according to Taiwan’s central bank.
The net fund outflow in Taiwan’s financial account, which measures the flow of direct investment and portfolio investments, was US$17.88 billion during the quarter, bringing the aggregate net outflow for the 34 quarters to US$413.31 billion, central bank data showed.
The fourth quarter figure was more than double the net outflow of US$7.83 billion in the third quarter as foreign investors cut their holdings in local securities amid volatility in global financial markets, the central bank said.
For 2018 as a whole, Taiwan recorded a net fund outflow of US$51.92 billion in its financial account, the central bank said. [FULL STORY]