Oct 23 (Reuters) - Outflows from exchange-traded funds (ETFs) tracking Israeli stocks accelerated in the last two weeks, tracking a sharp slide in share prices as the conflict between Israel and Palestinian group Hamas widens to other fronts.
The iShares MSCI Israel ETF posted net outflows of $2.5 million between Oct. 9 and Oct. 20, leaving it with assets of $111.62 million, according to Lipper data.
"The market doesn't like uncertainties," said Sammy Suzuki, head of emerging market equities at AllianceBernstein.
Israel ETFs were underperforming most of their peers prior to Hamas' attack, said Steven Schoenfeld, CEO of Market Vector Indexes, who created the index behind the $78.4 million BlueStar Israel Technology .
ETFs tracking Israeli technology stocks such as the BlueStar Israel Technology ETF and the $75.4 million ARK Israel Innovative Technology ETF recorded net outflows of $1.9 million and $7.2 million, respectively, in the last two weeks.
Persons:
Sammy Suzuki, Steven Schoenfeld, Israel's shekel, Bansari Mayur, Mark Potter
Organizations:
Health, Israel Technology, Israel Innovative Technology, Thomson
Locations:
Israel, Palestinian, Gaza, Lebanon, Iran, Bengaluru