Hedge funds drop European stocks for US and Japan, analysts say

News Snapshot:

[1/2] The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, May 30, 2023. REUTERS/Staff LONDON, June 5 (Reuters) - Hedge funds ditched European equities last week for stocks in the United States and Japan, client notes from JP Morgan (JPM.N), Morgan Stanley (MS.N) and Goldman Sachs (GS.N) show, as strong economic data lifted equity markets in both countries. Commodity Trading Advisors, hedge funds that use algorithms to trade market trends, rotated out of European and Hong Kong stocks and have moved into the United States and Japan, a JP Morgan note seen on...