Foreigners are cutting and running in some key Asian emerging markets amid turbulent trading ahead of this week’s Federal Reserve meeting, where policymakers are expected to signal an interest-rate liftoff in March.


Overseas funds have sold a net $3.1 billion worth of shares in Taiwan, South Korea and India so far this week, according to the latest available data compiled by Bloomberg. That follows $4.9 billion of withdrawals last week, the largest since August.

The MSCI Asia Pacific Index has lost more than 5% in two weeks, as rising bets on faster-than-expected monetary tightening and heightened tensions over Ukraine roiled global stock markets.