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U.S. equities saw outflows of $15.6 billion, the most since
September 2023, compared to a record $18.8 billion of inflows to
China, BofA said in its weekly roundup of fund flows in and out
of world markets.
Beleaguered Chinese stocks rose this week ahead of the Lunar New
Year break, moving off five-year lows on a slew of signals that
authorities are strengthening their resolve to support slumping
markets. [.SS]
State fund Central Huijin Investment said on Tuesday it has
expanded the scope of funds it is buying and will further
increase purchasing, seen as a broad - if short-term - support.
Meanwhile, the U.S. S&P 500 has continued to set new records
this week, even as the investors tracked in the fund flow report
pulled their cash. [.N]
One market segment on which investors particularly soured was
real estate funds, which saw outflows of $1.1 billion in the
week - the most since May 2022 - and which BofA attributed to
U.S. regional bank woes.
A sell-off in regional U.S. bank stocks triggered by New York
Community Bancorp last week has brought the sector's exposure to
troubled commercial real estate into focus.
Elsewhere the report showed money market funds continued to lap
up investors' money, with the cash equivalents seeing inflows of
$40.1 billion, taking assets over $6 trillion.
"Ain't no peak in cash levels yet," BofA said.
(Reporting by Alun John, editing by Lucy Raitano and Hugh
Lawson)
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