Foreign investors pulled a net $46.1 billion from emerging market equities in June, led by heavy selling in technology-focused markets such as South Korea and Taiwan, according to the latest data from the Institute of International Finance (IIF), highlighting growing caution toward risk assets despite continued appetite for emerging market debt. According to a Reuters report citing the IIF's monthly portfolio flows data, overall portfolio flows to emerging markets turned negative for a second consecutive month, with net outflows of $17.8 billion in June.