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Hedge funds buy stocks at quickest pace since Nov 2024, Goldman Sachs says

LONDON (Reuters) -Hedge funds bought global equities last week at the quickest pace since November 2024, Goldman Sachs said in a note, just as stock markets ended the month with their most positive May performance in decades. Hedge funds ended the week bullish in every global region, led by North America and Europe, the Goldman Sachs report said. Technology companies attracted the highest interest, with hedge funds accumulating the largest weekly number of net long positions in the sector in over five years.

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Morning Bid: Dollar slides on trade and tax fears

The euro led the charge, undaunted by the prospect of another interest rate cut from the European Central Bank on Thursday. Germany's new chancellor, Friedrich Merz, will travel to Washington to meet U.S. President Donald Trump on Thursday as trade talks between Europe and America are watched closely. But the attention on Monday seemed back on the tariff push, with an assumption President Donald Trump will push through levies one way or another despite the legal pushback last week.

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S.Korean shares flat ahead of election; chipmakers counter losses in steelmakers

Round-up of South Korean financial markets: ** South Korean shares ended little changed on Monday, as gains in chipmakers offset losses in steelmakers, while investor focus was on the country's snap presidential election a day later. The benchmark KOSPI closed up 1.30 points, or 0.05%, at 2,698.97. Chipmaker Samsung Electronics rose 1.07% and peer SK Hynix gained 1.47%, after data showed exports of semiconductors jumped in May on robust demand for advanced memory chips.

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