Solid Asia-Pacific corporate and financial institution credits continue to anchor capital flow and benchmark deals in the region, Fitch Ratings said in a Friday release.

Global emerging market portfolio inflows reached $58.3 billion in April, a reversal of the $66.2 billion outflow in March, Fitch cited the Institute of International Finance as saying.

Emerging Asia accounted for the largest share in debt investments for the month, indicating stable investor demand for Asian debt despite oil price pressure due to the Iran war, Fitch said.

Emerging markets including India, Indonesia, the Philippines, Sri Lanka, and Thailand have observed depreciation in the 5% to 7% range due to the Iran conflict, reflecting oil import reliance and fuel buffers, the rating agency said.

Investor appetite among emerging Asian markets exhibits differentiation, as seen in greater FX reserve drops for the Philippines and Sri Lanka compared to the others, Fitch said.

The rating agency believes sovereign support anchors funding access for issuers, with debt markets gaining from countries' external positions, deeper domestic funding markets and better policy response to shocks.