UPDATE 1-U.S.-based stock funds attract $12.8 bln in latest week -Lipper
By Sam Forgione
NEW YORK, Sept 12 (Reuters) - Investors in funds based in the United States poured $12.8 billion into stock funds in the latest week on strong global economic data and reduced fears of a U.S.-led strike on Syria, data from Thomson Reuters' Lipper service showed on Thursday.
The inflows into stock funds in the weekly period ended Sept. 11 were the biggest since mid-July. Data showing growth in the U.S. services sector and positive Chinese economic data helped lift global stocks over the reporting period, while the likelihood of a U.S.-led military strike on Syria fell.
Funds that hold U.S. stocks attracted $7.5 billion in new cash. The SPDR S&P 500 ETF Trust gained roughly $3.9 billion in inflows as the S&P 500 stock index rose 2.2 percent over the reporting period.
Emerging market stock funds attracted $2.6 billion in new cash in the weekly period ended Sept. 11, the biggest inflows since January. The MSCI emerging equities index rose 5.8 percent over the reporting period.
Japanese stock funds also attracted $200 million, the first inflows in seven weeks. Japan's Nikkei average hit a five-week high on Sept. 9 after Tokyo won its bid to host the 2020 Olympics and got an upgrade of second-quarter economic growth.
Taxable bond funds had inflows of $1.3 billion, the biggest inflows since late July. Data on Sept. 6 showing U.S. employers hired fewer workers than expected in August created uncertainty over whether the U.S. Federal Reserve would begin scaling back its monthly $85 billion in bond-buying.
Investors also put $13.2 billion into money market funds, which are low-risk vehicles that invest in short-term securities, marking the biggest inflows into the funds in five weeks.
- Housing, jobs data weaken, but overall economic picture still upbeat
- Putin critic Khodorkovsky in Germany after pardon
- Target cyber breach hits 40 million payment cards at holiday peak |
- Pizza outlet attacked as India, U.S. fail to cool diplomat row |
- New York Mayor-elect's reputation for lateness parodied on Twitter