Emerging market (EM) funds reported their best week of inflows since the middle of November last week as investors consider the under-performance of the asset class since early January to have been excessive. A total of $5.7bn was invested in EM funds last week. Russia funds again dominated, taking over $400m of new money with only slightly over 50% coming via ETF fund flows.
Asia’s markets have shrugged off concerns about the latest Japanese earthquake and are trading higher this morning. Oil, and most industrial metal prices are also higher so Moscow’s bourses should regain the losses suffered during the last of trade yesterday. The Nikkei is up 1.5% in early afternoon trade.
One-month Brent is trading higher at $123.4 p/bbl and WTI is at $111.01 p/bbl. Copper is 1.0% better in Shanghai trade. Theprice of gold is slightly better at $1,466.0 per ounce and the euro is up from yesterday’s close at $1.4394.
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