5 Minutes Read
Chinese stocks draw record $3 billion influx by global funds
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
Listen to the Article (6 Minutes)
Summary
Chinese shares are set to see a third straight month of inflows in April, suggesting the exodus from the market has likely passed.
Sentiment has clearly turned for the better toward Chinese equities with overseas investors purchasing a record amount of onshore shares Friday.
Traders added 22.4 billion yuan ($3.1 billion) of mainland stocks on a net basis using the links with Hong Kong, topping the previous high of 21.7 billion yuan in mid-2021. C
hinese shares are set to see a third straight month of inflows in April, suggesting the exodus from the market has likely passed.
The flows helped drive gains in the benchmark CSI 300 Index, which joined a rally in Hong Kong peers to advance 1.5% for the day. Turnover also topped the 1 trillion yuan mark. This bullish signs ratify a growing view that some global funds are unwinding crowded trades in US tech and elsewhere to dip back into China’s battered stocks.
Also Read: Why copper is now more attractive than diamond
Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout
3 Mins Read
Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter
Daily Newsletter
