2023-06-05 13:39:00
LONDON (Archyde.com) – Hedge funds moved their investments from European stocks to U.S. and Japanese stocks last week, according to a memo to clients from JPMorgan Chase & Co., Morgan Stanley & Goldman Sachs & Co. This is because stock prices in Japan and the United States have risen against the backdrop of favorable economic indicators.
According to a JP Morgan memo seen on the 5th, a commodity trading advisor (CTA) fund that diversifies and manages the assets entrusted to it by customers in a wide range of financial products has diversified from European and Hong Kong stocks to U.S. and Japanese stocks. Shifted to equities.
The CTA fund took a bullish position in Japanese stocks for the first time in about two years, while its long (bullish) position in British stocks was pointed out as “the lowest in May.”
The S&P 500 index hit its highest since August 2022 on Friday, boosted by a strong U.S. jobs report and relief that the U.S. debt ceiling has been averted. On the other hand, the Nikkei Stock Average reached its highest level in about 33 years on the 5th due to speculation that the Bank of Japan will maintain its ultra-low interest rate policy.
Hedge fund net buying of North American stocks hit a five-month high, led by investment in technology, consumer goods and health care, according to a Goldman Sachs memo. Net selling in U.S. energy stocks hit a 10-week high and approached its highest since 2018, the report said.
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