Global equity funds draw inflows for a sixth straight week

Oct 30 (Reuters) - Global equity ‌funds saw substantial ​inflows ​in the week ended October 28, though at a slower pace, as a rebound in AI and chip stocks, ‌led by South Korea’s SK Hynix after record quarterly ⁠profit, lifted demand for technology and Asian funds.

Investors bought a net $10.19 billion in global ‌equity funds for a sixth ‌consecutive week of net purchases, though inflows eased from $25.06 billion the previous week, according to LSEG Lipper data.

There was, however, some ​caution in markets over the AI trade ahead of earnings reports from AI hyperscalers Alphabet, Microsoft and Amazon.

Asian equity funds led ⁠regional inflows, attracting $9.9 billion in net purchases, after $11.58 billion the previous week. Investors added $4.54 billion to ​European funds but withdrew a net $6.65 billion from US equity funds.

Among sectoral funds, investors allocated $5.5 billion to the ​technology sector, up from $5.07 billion the previous ‌week. Industrial sector funds also drew $408 million, while utilities saw $928 million in outflows.

Weekly net inflows into global ⁠bond funds cooled to a six-week low of $2.72 billion.

Global short-term bond funds saw $2.67 billion in weekly outflows—the first net sales since April 15—while investors bought $2.62 ⁠billion in government bond funds and $1.01 billion in corporate bond funds.

Meanwhile, money market funds ​recorded net outflows of $38.5 billion, reversing from $16.95 billion in inflows the previous week.

In commodities, investors withdrew $1.51 billion from gold and other precious metal funds, marking a ‌second week of net sales in the past seven weeks. Energy funds, however, attracted $177 million in inflows.

Data ‌covering 29,184 emerging-market funds showed equity funds remained popular for a third ⁠straight week, drawing $2.2 billion in ‌net inflows. Bond funds, ​however, saw net sales of $1.85 billion, their largest weekly outflow since September 30.

(Reporting by Gaurav Dogra; Editing by ‌Tasim Zahid)

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