LONDON Foreign investors piling into Asian fixed income and stocks propelled emerging market portfolio inflows to US$10.4 billion in May, offsetting Chinese bonds suffering a third straight month of outflows, the Institute of International Finance (IIF) found. The fifth consecutive month of positive foreign investor cash flows to emerging markets came despite outflows of US$7.2 billion from Chinese debt and a small US$100 million inflow to the country's equities, the IIF found. Over the past year, foreign investors have taken some US$59 billion out of Chinese debt, though the country's equities have seen US$33.

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