花旗：资金流向洞察 - 资金回流美国基金

Investment Rating - The report indicates a positive outlook for US equity funds with a significant inflow of US$25.2 billion, suggesting a favorable investment environment [1][2]. Core Insights - US equity funds experienced a notable inflow of US$19.8 billion after four weeks of net outflows, primarily through ETFs, while bond funds also saw inflows of US$13.1 billion [1]. - Global and European funds maintained strong inflows of US$5.2 billion and US$2.7 billion respectively, indicating robust investor interest in these markets [1]. - Emerging markets (EM) funds faced outflows, particularly from China ETFs, which saw US$3.2 billion in redemptions, despite GEM funds gaining almost 3.7% for the week [2]. Summary by Sections Fund Flow Overview - Inflows into US equity funds totaled US$25.2 billion, with bond funds attracting US$13.1 billion during the week of May 14, 2025 [1]. - Global funds attracted US$5.2 billion, while European funds saw inflows of US$2.7 billion, reflecting strong market performance [1]. Emerging Markets - Emerging market funds experienced a US$3.3 billion outflow, with China ETFs leading the redemptions at US$3.2 billion [2]. - GEM funds had mixed flows, with ETFs seeing US$1.4 billion outflow but non-ETFs gaining US$1.6 billion [2]. Local Intelligence - Taiwan saw a return of US$3.3 billion in foreign inflows, while Korea and India attracted US$0.6 billion and US$0.4 billion respectively [3]. - However, Chinese investors sold US$1.0 billion worth of Hong Kong stocks through the Southbound Connect [3].