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Corrective Cycle

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Consolidating But Remains Bullish

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Recovering, But Not Through Resistance

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Consolidation Mode

EMERGING MARKETS

Flows into emerging market ETFs continued their remarkable twelve-week streak totalling $23.1 billion. Despite this, the size of the increase was down considerably from last week's impressive $3.55 billion to $462.3 million.

It is worth noting this constitutes the smallest weekly rise over the past twelve weeks and potentially indicates signs of momentum stalling amid broader global risks relating to the second waves of the pandemic.


According to data compiled by Bloomberg:

  • Stock ETFs expanded by $344.7 million.
  • Bond funds rose by $117.5 million.
  • China/Hong Kong had the biggest inflow, of $196.9 million, led by DWS Xtrackers' Xtrackers Harvest CSI 300 China A-Shares.
  • Turkey had the biggest outflow, of $4.53 million, following withdrawals from iShares MSCI Turkey.

Despite this, shares of the $77 billion Vanguard FTSE Emerging Markets ETF, the largest U.S.-based fund of its kind, continued to test the highest levels seen since 2007 last week.

MNI London Bureau | +44 020 3983 7893 | jack.lewis@marketnews.com