Australia

Market Moves: Week Ending 16 February 2024

Crypto ETFs (CRYP, EBTC, EETH) dominated the top performers list once again as Bitcoin surged to US$52,000, its highest mark since 2021.¹ Analysts have attributed the rally to relatively low volumes during the Lunar New Year, and constant buying pressure from the newly listed spot Bitcoin ETFs.²
Risk-on technology funds (BUGG, CLDD, HACK, LNAS) were the poorest performers of the week as US inflation data came in higher than expected.³ Unexpectedly sticky inflation has forced traders to re-evaluate their expectations for an early rate-cut by the Fed this year, negatively impacting growth stock prices.
There were $601.7 million in reported inflows for the shortened week and $156.0 million in outflows, marking a week of net inflows for the Australian ETF industry.

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Authored by: Justin Lin

Date:
Feb 20, 2024

Category:
Reports

Topics:
ETF Express, Market Moves

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Global X Management (AUS) Limited (“Global X”) (Australian Financial Services Licence Number 466778, ACN 150 433 828) is the product issuer. Offers of interests in any retail product will only be made in, or accompanied by, a Product Disclosure Statement (PDS). In respect of each retail product, Global X has prepared a target market determination (TMD). Each PDS and TMD is available at www.globalxetfs.com.au. The information on this website is general in nature only and does not take into account your personal objectives, financial situations or needs. Before acting on any information, you should consider the appropriateness of the information having regard to your objectives, financial situation or needs and consider seeking independent financial, legal, tax and other relevant advice having regard to your particular circumstances. Any investment decision should only be made after obtaining and considering the relevant PDS and TMD. Investments in any product issued by Global X are subject to investment risk, including possible delays in repayment and loss of income and principal invested. The value or return of an investment will fluctuate and an investor may lose some or all of their investment. Past performance is not a reliable indicator of future performance.

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Market Moves: Week Ending 16 February 2024

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