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Chinese stock funds attract most cash since April '08 in week: BofA

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Investors worldwide poured US$4.5 billion into funds that specialize in Chinese stocks in the week ended May 27, marking the biggest weekly inflows into the funds since April 2008, data from a Bank of America Merrill Lynch Global Research report showed on Friday.

[NEW YORK] Investors worldwide poured US$4.5 billion into funds that specialize in Chinese stocks in the week ended May 27, marking the biggest weekly inflows into the funds since April 2008, data from a Bank of America Merrill Lynch Global Research report showed on Friday.

Stock funds overall attracted US$4.6 billion after posting US$600 million in outflows the prior week, according to the report, which also cited data from fund-tracker EPFR Global. Funds that specialize in US shares posted US$3.9 billion in withdrawals to mark outflows from the funds in nine of the past 10 weeks, the report said.

Bond funds posted US$400 million in outflows after attracting US$1.4 billion in inflows the prior week, marking just the second week of outflows from the funds so far in 2015. Funds that mainly hold US Treasuries posted US$1.4 billion in withdrawals to mark their fifth straight week of outflows.

REUTERS

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