Despite the resurgent risk of a Greek exit from the euro-zone, investors have so far remained relatively relaxed about the possible effect on emerging markets. Admittedly, there were further net outflows from global ETF and mutual funds that invest in emerging market assets during January. But this was mostly prior to the Greek election and the scale of outflows was significantly smaller than that seen in December. Timelier data from stock exchanges in Emerging Asia also suggest that foreign demand for equities there at least has picked up over the past month.
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