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Investing.com -- Long-only funds invested $44.9 billion in Asia Pacific excluding Japan equities in August, with China receiving the lion’s share at $39.7 billion as the regional rally continued.
The substantial inflows helped reduce funds’ China underweight position versus benchmark to $13.1 billion, according to an analysis of 4,969 long-only funds with $3.5 trillion in assets under management.
Korea and India also attracted positive flows of $1.9 billion and $1.4 billion respectively during the month.
By sector, Industrials led with $9.8 billion in inflows, followed by Tech Hardware at $7.4 billion and Banks with $4.8 billion.
At the individual stock level, Contemporary Amperex Technology Co. Limited (CATL) saw the largest purchases at $3.8 billion. East Money Information attracted $1.4 billion, while Samsung Electronics received $1.1 billion and Eoptolink Tech gained $1.0 billion.
Not all stocks benefited from the buying trend. Taiwan Semiconductor Manufacturing Company (TSMC) experienced outflows of $1.6 billion, and Alibaba saw $0.7 billion in selling during August.
The analysis revealed that funds remain most overweight in Taiwan and Korea positions, while maintaining their largest underweight positions in Australia and India.
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