Shannon Brandao
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"FT [excerpt]: More than three-quarters of the foreign #money that flowed into #China’s stock market in the first seven months of the year has left, with global #investors dumping more than $25bn worth of shares despite Beijing’s efforts to restore confidence in the world’s second-largest #economy.
The sharp selling in recent months puts net purchases by offshore investors on course for the smallest annual total since 2015, the first full year of the Stock Connect programme that links up markets in #HongKong and mainland #China.
Traders and analysts said a lack of forceful policy support from Chinese leaders had convinced global institutional investors to hold off on buying until growth rebounded enough to make China’s market competitive with others in the region.
...Global investors began 2023 buying Chinese stocks at a record pace in January, anticipating an economic rebound as the country abandoned its disruptive 'zero-Covid' regime.
But foreign funds have forcefully sold down their positions in recent months in response to mounting concerns over a liquidity crisis in the property sector and disappointing growth readings."
#news #business