(Bloomberg) -- Investors pulled more than $1 billion out of U.S. ETFs that invest in emerging markets last week, leaving the ETFs in the longest losing streak since September.
Redemptions from emerging-market ETFs that invest across developing nations as well as those that target specific countries totaled $1.16 billion last week, compared with withdrawals of $272 million in the previous period, according to data compiled by Bloomberg.
Losses so far this year total $5.29 billion. Deposits in the funds declined for the fifth straight week, the worst stretch since 11 weeks that ended in mid- September.
Last week, stock funds lost $729.9 million and bond funds declined by $431.2 million. The MSCI Emerging Markets Index declined 0.4% in the week.
The biggest change was in China and Hong Kong, where funds shrank by $392.3 million, compared with $39 million the previous week. Investors withdrew $389.9 million from stock funds and $2.4 million from bonds.
The Shanghai Composite Index advanced 0.9%. The yuan was little changed against the dollar and implied three-month volatility is 8.6%.
Taiwan had the next-biggest change, with ETF investors redeeming $136.9 million, compared with $54.3 million the previous week. All the losses were from stock funds.
The Taiex lost 1% The Taiwan dollar appreciated 0.44% against the dollar and implied three-month volatility is 8.73%.
