China and Taiwan Pull Billions as Tech Leads Inflows

China topped the global geography table this week, pulling in a net $12.0B in the past seven days. That is the single biggest country flow of the week. Taiwan added $5.6B, with a flow imbalance of 96.4, meaning almost all of the gross activity was buying. Those numbers land against a striking backdrop: Taiwan's total export orders hit $114.2B in September 2026, up 62% on the same month last year and the largest September on record since 1984, according to ORTEX Alt Data. The two flows together point to sustained conviction in Asian technology supply chains.

Geography Flows

The US drew $8.2B in net inflows over the week, its flow imbalance sitting at a balanced 54.7. Japan added $4.7B. Over three months, however, Japan has actually seen a $6.5B net outflow, its flow imbalance slipping to 48.9. That is one of the sharpest trend reversals in the data: Japan was the second-largest AUM geography and is now losing ground on a quarterly basis. Money that left Japan appears to be moving toward Developed Markets ex-US and Global Ex-US baskets, both of which carried strong imbalance scores above 83 this week.

India flipped to a small net outflow on the week ($40M) and has shed $1.2B over three months, a sign that India-focused ETFs are losing momentum after a period of strong inflows. North America (ex-single country) showed selling pressure, with a flow imbalance of 18.9 this week.

Sector Rotation

Information Technology led all sectors with $5.1B of net inflows this week. That sounds bullish, but the three-month picture is less decisive: tech's flow imbalance over 3m was only 52.3, barely above neutral. Industrials is the most striking reversal. It bled $1.2B this week with a flow imbalance of just 30.4. Over the prior three months, Industrials had also been in outflow ($1.5B net), making it the most consistently unloved sector in the data.

Financials flipped. Over three months it suffered the heaviest sector outflow at $9.7B. This week it attracted $283M of net buying. That turn is consistent with a broader market fact: US financials sector buybacks hit 190M shares in Q2 2026, the highest second-quarter total in 12 years, according to ORTEX Alt Data. Buybacks have risen for three consecutive quarters.

Energy collected $524M this week and $2.1B over three months, making it one of the few sectors consistently on the right side of flows across both time frames. Utilities flipped negative this week ($493M outflow) after three months of solid $2.7B inflows, a small but notable shift away from the defensive trade.

Asset Class and Strategy

Equities dominated at $38.4B of net inflows this week. Fixed income added $14.1B, maintaining a flow imbalance of 67.7. Over three months, fixed income has attracted $289.8B, running at roughly 54% of the equity haul on a net basis. That ratio suggests investors are running equities and bonds in parallel rather than rotating between them.

Commodities collected $1.8B this week and $35.5B over three months, a steady trickle that reflects persistent interest in real assets. Alternatives drew $530M this week on a near-neutral imbalance of 54.3.

On strategy, Active ETFs had the highest flow imbalance this week at 70.2 among the major categories, and they have gathered $162.9B over three months versus $224.5B for Vanilla. Active is closing the gap. Value pulled in $1.1B this week and $11.0B over three months. Equal-weight reversed sharply: after $4.2B of net inflows over three months, it saw $1.6B of outflows this week, flow imbalance dropping to 35.3.

The overall tone is risk-on. Equities lead, active management is gaining share, and the Asia technology story is attracting fresh money from both the geography and sector sides of the ledger.