Another good data point.With competitive markets its nice to see some shifting of capital.
Foreign investors are piling back into Canadas US$3.2 trillion stock market after a pandemic-driven exodus.
The nations equities are on pace to record the highest foreign inflows since 2017, adding US$22.7 billion as of the end of April, according to Bloomberg calculations based on Statistics Canada data. Overseas investors were net sellers in the past two years, partly because of a lack of large-cap technology stocks, the early winners of the COVID-19 pandemic.
The S&P/TSX Composite Index has rallied nearly 16 per cent this year, outpacing the S&P 500 Indexs 12 per cent rise, thanks to its large weighting in cyclical and value stocks. Financial firms, materials stocks and oil and gas companies -- all beneficiaries of accelerating economic growth -- make up 56 per cent of the Canadian benchmark.
Reference: https://www.bnnbloomberg.ca/foreigners-flood-canada-s-stock-market-amid-value-rotation-1.1618371