Edited by Peter Hillerberg3 min readStories are generated from ORTEX data and reviewed by the ORTEX team. How we publish
US equity ETFs pulled in $33.6B in the past week, the biggest single geography inflow by a wide margin. China was the clear runner-up at $10.3B, with a flow imbalance of 76.5, strong buying pressure. Taiwan added $5.3B with an imbalance of 96, close to one-directional. The pattern points to a clear pivot: investors bought both US and Asian tech-heavy markets hard this week.
The sharpest reversal sits in Europe. Developed Europe bled $900M over the week, imbalance of just 36, meaning outflows dominated. Over three months, Europe actually posted a $7.4B gain, so this week's selling is a clean break from the recent trend. Spain and France also recorded outflows, while Germany roughly balanced. The rotation out of Europe into Asia looks deliberate.
Japan tells a different story. Three-month flows were negative at $6.8B out, but this week $2.7B came back in. That could mark a stabilisation, though the weekly imbalance of 76.5 suggests some genuine renewed appetite. Today is the MSCI rank date for the November quarterly review. Fabrinet, which dropped sharply overnight, has seen its MSCI World exit probability jump to 90%, with $779M of forced selling now likely on 30 November. Yokogawa Electric faces a 66% deletion probability too, with $396M at stake.
Brazil attracted $2.0B this week with an imbalance of 98, nearly all one-way buying. India was the odd one out among major EMs, losing $63M with a 12.3 imbalance, that marks a continuing soft patch. Over three months, India is down $1.2B net, so the weekly reading extends a trend rather than reversing one. Malaysia also saw minor outflows. ORTEX alt data shows Malaysian new car registrations rose 19% year-on-year in September 2026, a sign of real-economy strength that has yet to attract ETF flows.
Technology grabbed $9.4B this week. Financials lost $2.5B, the biggest sector outflow, with an imbalance of just 19. Industrials shed $1.5B. Over three months, however, Financials led sector outflows at $10.5B. So the sector-level story is consistent: money has been leaving banks and industrial names, and this week accelerated that move. Health Care and Energy both held positive territory in both periods.
The contrast between Tech's weekly dominance and its modest $2.0B three-month net is striking. Over 90 days, gross flows in and out of Tech were near-equal at roughly $129B each way. This week saw a clear break toward net buying. TSLA and GM both report this week. ORTEX alt data shows German car registrations, which lead GM's revenue by 15 days, running 133% above the same quarter last year. The same dataset for Tesla is running 269% ahead, three months in a row.
Equities took in $68.6B this week, dwarfing fixed income at $15.1B. Commodities added $2.1B with a 70 imbalance. Over three months, fixed income has drawn $298B, more than half the equity haul of $500B in proportional terms, a sign that bond buying has been persistent even as stocks gained.
Active ETFs attracted $4.3B this week and $167B over three months, the second-largest strategy flow in the 3m period. That compares with passive (Vanilla) at $206B. The active share of total inflows has risen. Growth ETFs posted a strong 1w imbalance of 83 and Value scored 81, suggesting money came into both rather than one beating the other. ESG reversed sharply: down $498M this week, against a $9.5B three-month gain. That weekly outflow and imbalance of 44 marks the clearest ESG sell signal in the data. Low-volatility strategies also saw outflows, reinforcing a risk-on tone across the week.
The overall picture is risk-on. Investors bought equities over bonds, growth and value alike over defensive strategies, and reached for US and Asian tech over European and Indian markets. ESG and low-volatility selling confirms little appetite for caution right now.
ORTEX Market Intelligence content is generated by AI from a snapshot of ORTEX's proprietary data and reviewed by the ORTEX team. Content is informational only and does not constitute investment advice.
