Business · Markets · 5 hrs ago

Global stock funds draw $20 billion as technology funds lose money

Global stock funds draw $20 billion as technology funds lose money

Global stock funds took in $20.01 billion in the week to October 14, their fourth straight week of inflows.

The money came as US Treasury yields fell from a recent high and investors grew more hopeful about company earnings.

US equity funds attracted about $13 billion, while Asian and European equity funds also gained money.

But technology funds lost $4.75 billion as investors worried about rising debt in the sector.

Analysts expected global company earnings to rise 25.14% year on year in the latest quarter, with technology earnings forecast to grow faster.

Global bond funds also gained $7.79 billion, extending their run of weekly inflows to four weeks.

The figures show investors adding to stocks and bonds overall while pulling back from some sectors, especially technology; no further developments are given.

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