Data from Goldman Sachs' prime brokerage division indicates that hedge funds became net sellers of global equities last week for the first time in five weeks, with selling most pronounced in North American and European markets.

The team led by Vincent Lin at Goldman Sachs noted that the ratio of short selling to long buying activity was 1.3 to 1, with net selling occurring in all major regions except for developed markets in Asia.

Macro products recorded their first net selling in a month, while individual stocks saw net buying. At the sector level, seven out of eleven global sectors experienced net purchases. In terms of dollar value, the financials, materials, and energy sectors were the most heavily bought, while industrials, information technology, and utilities saw the most significant net selling.