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21 de julho de 2010Emerging-market equity fund inflows jumped to more than $3 billion in the week to July 14 as the start of the U.S. earnings season prompted a rebound in optimism, according to EPFR Global.
Indian equity funds absorbed $114 million, a 13-week high, as forecasts for monsoon rainfall improved, while Brazilian stock funds attracted $97 million, the most in 20 weeks, EPFR said in an e-mailed statement.
“Cautious optimism that the prospects for a double-dip recession have been overblown, allied to some decent early second-quarter 2010 earnings reports” helped to bolster equity markets and fund flows, EPFR said.
The MSCI Emerging Markets Index rose 0.1 percent to 945.54 as of 9:23 a.m. in Singapore, its first gain on four days. A “double-dip” recession appears unlikely and U.S. stocks have the potential to climb higher in the second half of the year, Robert Doll, vice chairman of BlackRock Inc., the world’s largest asset manager, said today.
Microsoft Corp. climbed 1.4 percent yesterday after UBS AG raised its earnings estimate, citing signs of stronger demand. Halliburton Co. jumped 6 percent after topping analysts’ earnings and revenue estimates.
Flows into global emerging market stock funds rose to their highest level since the third week of October and those investing in Asia excluding Japan enjoyed a “solid week,” EPFR said. Global-tracked bond funds attracted $6.45 billion, the most since the last week of April, it said.
Latin America
Latin America equity funds were bolstered by renewed optimism about growth prospects in the U.S. and China, which helped lure $97 million to Brazil equity funds, EPFR said. That’s a 20-week high and ended 13 weeks of outflows, it said.
With another week of net inflows, the combined Frontier Market Equity Funds have almost reached the $1 billion market this year, it said. The amount is “well beyond” previous full- year inflows.
Emerging-market bond funds also took in $745 million, it said. They have absorbed a record $18.5 billion so far this year, reflecting renewed appetite among investors for hard currency debt, it said.
