EM Asia markets got a sell-off in last week's session, China took a hit – GS By Investing.com

Investing.com– Emerging markets in Asia saw a big selloff last week, Goldman Sachs analysts said in a note, with Chinese markets seeing a flurry of exits amid lingering worries about the country.

EM Asia saw total outflows of $6.5 billion, led by outflows of $2.1 billion from China's A-Shares market and $2 billion from Taiwan. South Korea and India also saw outflows of $1 billion each.

The exit came as risk-adjusted markets were hit by a series of negative signals, including heightened concerns about a US recession and hawkish signals from the Bank of Japan. While many regional markets have recouped the bulk of these losses, China has left its peers behind.

China and indices remained close to six-month lows, seeing weak asset purchases as a series of weak economic data in July dented the country's confidence.

The country's top political gatherings also gave few details about further support for economic policy.

But while Chinese stocks are seeing continued outflows, China's southbound market, particularly Hong Kong, saw inflows of $2 billion last week.

Hong Kong stocks fared better than their Chinese counterparts, recovering from a nearly four-month slide last week – mainly on buying heavyweights such as Tencent Holdings (HK:) and Alibaba Group (NYSE:).

Both companies are expected to report their June quarter earnings this week.