In Asia, China's factory activity dipped in April, suggesting the manufacturing sector is losing momentum amid a bumpy post-COVID economic recovery.
This week, the Fed raised interest rates by a quarter of a percentage point again, increasing consumer and company borrowing costs.
The U.S. and European equity funds booked $15.6 billion and $600 million worth of outflows during the week, while Asian funds drew a small inflow of $160 million.
Among sectors, investors pulled out money worth $563 million and $358 million from tech and financial sector funds, while they poured a net $463 million into consumer staples.
Meanwhile, investors continued to favour money market funds, which lured inflows worth $44.3 billion, higher than $41.7 billion in the previous week.
Global bond funds also secured $3.95 billion of inflows in a second week of net buying. Investors purchased government and short- and medium-term bond funds of about $2 billion each but drew $910 million out of high-yield funds. Among commodities, energy funds received $169 million in a second straight week of net buying, while precious metal funds drew a net $87 million worth of inflows. Data for 23,973 emerging market funds showed investors received a net $1.35 billion worth of equity funds in their biggest weekly net buying since March 1 but exited a net $183 million worth of bond funds. <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ Fund flows: Global equities, bonds and money markets Fund flows: Global equity sectors Global bond fund flows in the week ended May 3 Fund flows: EM equities and bonds ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Reporting by Gaurav Dogra and Patturaja Murugaboopathy in Bengaluru; Editing by Louise Heavens)
