Investors keep faith in stocks despite tech selloff

Investors pumped money into equities and yanked funds out of bonds and cash as inflows into equity markets showed no signs of abating, BofA's weekly flow show report showed on Friday.

In the first 20 of the 23 trading days of the year, equity markets have seen net inflows with more than $106 billion pumped into stocks, according to BofA using EPFR data.

On a weekly basis in equities, Europe saw the largest inflows since May 2017, while emerging markets saw net inflows for the past seven weeks.

In contrast, fixed income markets saw outflows across the board with the exception of government bond funds.

Cash levels were also building, although there was no risk-off sentiment in equity flows yet. BofA's 'private clients' -which manage $3.2 trillion of assets - had 11.7 per cent in cash though clients were net buyers of equities for the ninth consecutive week.