Global investors remain overwhelmingly bullish on U.S. and Chinese tech shares, while short positions on emerging equities are growing increasingly popular, Bank of America Merrill Lynch’s latest monthly fund manager survey showed on Tuesday.
Investors picked “Long FAANG and BAT” as the “most crowded” trade for the seventh straight month, BAML’s August survey found, referring to U.S. tech giants Facebook, Amazon, Apple, Netflix and Google, and China’s Baidu, Alibaba and Tencent.
