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Small-Cap Value Led Week's Advance Tech Backs Off Its Pace Japanese funds' rally picks up speed to 2.93% as gold declines 1.9%.(A)

Investor's Business Daily

| December 02, 2002 | COPYRIGHT 2002 Investor's Business Daily, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Byline: DAN MOREAU

Small-cap value funds led performance as the stock market put in its eighth straight week of positive returns.

Small-cap value returned 2.65% in the week ended Nov. 27, according to Lipper Inc. data.

Science and tech led sector funds with a 1.9% gain. They'd shot up 7.5% the week before. And Japanese funds led overseas fund performance, as their gain accelerated to 2.93% from 1.31% the previous week.

Gold funds, which lead performance for the year, fell 1.91% for the week, adding to the 3.07% decline the week before. Gold typically draws investors in bear markets, then falls as stocks rebound.

The Dow Jones industrial average rose 0.98% in the four-session week. The S&P 50 index was up 0.55%, while the Nasdaq composite rose 1.39%. U.S. stock funds on average rose 0.92%.

Telecom funds were also among the top performing sectors. They rose an average 1.56%. The sector has been beaten down so long that investors are snapping up bargains in anticipation of a rebound in spending on telecom equipment.

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