LONDON, June 2 (Reuters) - Hedge funds bought global

equities last week at the quickest pace since November 2024,

Goldman Sachs ( GS ) said in a note, just as stock markets ended the

month with their most positive May performance in decades.

The S&P 500 advanced just over 6% in May, its biggest

monthly rise since November 2023 and its best gains for the

month of May since 1990. The Nasdaq rallied about 9.6%,

which was also its biggest monthly gain since November 2023 and

its best May performance since 1997.

Hedge funds ended the week bullish in every global region,

led by North America and Europe, the Goldman Sachs ( GS ) 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. Buying centered on

firms integral to the artificial intelligence industry,

including semiconductor manufacturers, technology hardware

producers and electrical equipment companies, the report said.

North American tech companies were favoured by hedge fund

trades, followed by European counterparts, Goldman Sachs ( GS ) said.

The pan European stock index returned more than 5%

in May. Hedge funds bought European stocks for the third

straight week and at the fastest pace in three months, the

Goldman note said.

Companies in Spain, France, Finland, Germany, Sweden and

Denmark were the most net bought markets this week, while

Ireland, the Netherlands and Switzerland were the most net sold,

said the Goldman report.

European stock sectors bought by global hedge funds last

week included consumer discretionary, financial, health care and

communications companies, the data showed.

Hedge funds mostly bought single stocks but also made some

long trades in stock indexes too, said Goldman Sachs ( GS ).

A long position expects an asset price to rise.