NEW YORK, April 23 (Reuters) - Foreigners added about

$32.7 billion to their emerging market portfolios in March, a

fifth consecutive month of overall foreign net flows to EMs, the

Institute of International Finance said on Tuesday.

The IIF banking trade group said flows were positive for

both bonds and equities last month, with equities absorbing

$10.2 billion and debt $22.5 billion.

The overall figure compares with inflows of $20.5 billion in

February and a $9.1 billion outflow in March of 2023.

Positive flows returned to both Chinese equities and debt

for the first time since June, if only slightly. China stocks

took in $1.7 billion and bonds $2.1 billion.

"EM x/China debt has seen stronger flows, sustained mainly

by large issuance by a few selected EMs and a positive impact

from carry trade," said IIF economist Jonathan Fortun.

"Moreover, market appetite for local currency debt across

the EM complex has also aided the overall figure."