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Global stocks were mixed last week, with the S&P/ASX 200 falling 0.2% and the S&P 500 declining 1.2% as financials and technology stocks weakened and U.S. political uncertainty continued. Financial sector ETFs, QFN, OZF and MVB all declined by more than 1.7%. In Europe the EURO STOXX 50 added 0.5%. Asian markets had a strong week with the Nikkei 225 gaining 1.o%, the Hang Seng up 1.6% and the S&P Asia 50 Index gaining 2.3%. Four of the five best performing ETFs last week were Asian equityfocused, with UBS IQ MSCI Asia APREX 50 Ethical (UBP) returning 4.0% for the week. The Australian dollar retreated 1.7% against the USD to end the week just above US 77c. U.S. rate-hike expectations firmed, with movement from the Fed considered to be likely this week. The Japanese yen gained 0.8% against the U.S. dollar and 2.4% against the Australian dollar. WTI crude oil added 0.5% to end the week at US$62.34/bbl. Precious metals declined, with gold falling 0.7% to US$1,314 and silver declining 1.5%. The broad Bloomberg Commodity Index lost 0.7% for the week. The Australian ETF market saw inflows of $74m into and outflows of $62m from domestically domiciled funds last week. The largest inflows were into BetaShares S&P/ASX 200 Resources Sector ETF (QRE), while the biggest outflows were from BetaShares FTSE RAFI Australia 200 ETF (QOZ). ...
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Global stocks rallied last week as positive economic data outweighed the impact of the Italian election result and the fallout from the U.S. steel and aluminium tariffs. A strong U.S. employment report saw the S&P 500 end the week up over 3.5%. Elsewhere, the EURO STOXX 50 gained 2.9% while the Nikkei 225 added 1.4%. Domestically, the S&P/ASX 200 was up 0.6% for the week, led higher by strong performances in healthcare stocks. The top sector plays in the ETF market last week were ETFS Morningstar Global Technology ETF (TECH) and BetaShares Global Healthcare ETF (DRUG), returning 3.5% and 3.2% respectively. The Australian dollar gained 1.1% against the USD to end the week above USc 78, having dipped earlier in the week on a slightly weaker than expected GDP report. U.S. 2 year Treasury yields continued to push upwards, ending the week above 2.25% for the first time since September 2008. WTI crude oil added 1.3% to end the week at US$62.04/bbl. Precious metals were largely unchanged, with gold rallying above US$1,340 early in the week before pulling back to close below US$1,325. The broad Bloomberg Commodity Index lost 0.2% for the week on declining industrial metals prices. The Australian ETF market saw inflows of $148m into and outflows of $8m from domestically domiciled funds last week. The largest inflows were into SPDR S&P/ASX 200 Fund (STW) and BetaShares Australian High Interest Cash ETF (AAA). ...