ANZ write that "portfolio flows into Asia......>

ASIA: ANZ write that "portfolio flows into Asia ex-China turned negative in

December after a short recovery in the previous month. With this, the region

recorded net outflows of USD25.9bn for the calendar year 2018, the first full

year outflow since 2008. While the temporary reprieve in US-China trade tensions

saw foreign investors return to China's debt market in the month, outflows from

the Asia ex-China equity markets indicate investors are still concerned about

the region's growth outlook. The new year has seen a return of inflows, as a

shift in the US Federal Reserve's language around their policy normalisation and

optimism that US-China trade talks will result in a deal have helped to improve

investor sentiment towards Asian assets. But sentiment and flows can be fickle

and we can expect volatility to persist in 2019."