Skip to Content Facebook Feature Image

US equity funds see largest weekly outflows in 16 months

China

China

China

US equity funds see largest weekly outflows in 16 months

2024-04-23 03:20 Last Updated At:05:37

⁠⁠⁠⁠⁠⁠⁠U.S. equity funds saw very sharp outflows last week as investors offloaded over 21 billion U.S. dollars worth of funds, the most since Dec. 2022.

Sentiment on main street has clearly soured as tensions in the Middle East keep worsening, which has dampened investor sentiment. 

The blue chip S and P 500 and tech-heavy Nasdaq have now notched six consecutive down days, removing hopes that the Fed will ride further to the rescue with additional easing moves.

Earnings results so far have been a mixed bag, failing to provide a positive catalyst. 

Even high-flying semi-conductor stocks -- the best-performing shares so far this year -- have been bruised - shedding their largest weekly losses in almost two years.

US equity funds see largest weekly outflows in 16 months

US equity funds see largest weekly outflows in 16 months

Next Article

China's service outsourcing industry reports robust expansion

2024-05-22 04:25 Last Updated At:05:37

⁠⁠⁠⁠⁠⁠⁠China's service outsourcing industry saw robust expansion in the first four months of this year, the Ministry of Commerce said on Tuesday.

Chinese firms inked services outsourcing contracts worth a total of some 781.43 billion yuan (about 110 billion U.S. dollars) in the four-month period, up 14.4 percent year on year, according to the ministry.

The executed contract value stood at 520.51 billion yuan, a year-on-year increase of 12.9 percent.

Of the total, the value of offshore service outsourcing contracts rose 8.6 percent year on year to 419.04 billion yuan.

Specifically, the value of offshore information technology outsourcing (ITO) services provided by Chinese companies jumped by 10.9 percent from a year earlier.

China's Hong Kong Special Administrative Region, the United States and the European Union ranked the top three markets in terms of the fulfilled contract value of offshore outsourcing service, accounting for 54 percent of the total.

Chinese firms undertook nearly 80 billion yuan(about 14.93 billion U.S. dollars) worth of offshore service outsourcing contracts that were fulfilled with countries participating in the Belt and Road Initiative, up 24 percent from a year ago, while the offshore outsourcing services for Regional Comprehensive Economic Partnership (RCEP) member countries totaled 73.26 billion yuan, up 16.6 percent year on year.

Outsourcing refers to hiring an outside party to carry out services or produce goods typically undertaken by in-house employees. In China, service outsourcing is typically divided into three sectors: information technology outsourcing, business process outsourcing and knowledge process outsourcing.

In the January-April period, the service outsourcing industry welcomed about 301,000 new hires, with 84.7 percent of these individuals holding a bachelor's degree or above. The sector had over 16.17 million employees at the end of April, among whom some 10.56 million were graduates with a bachelor's degree or higher.

China's service outsourcing industry reports robust expansion

China's service outsourcing industry reports robust expansion

Recommended Articles