28 Dec Foreign investors unwind $33bn bet on China growth rebound
Posted at 06:39h
in Insights
Almost 90% of money that flowed into Chinese stocks in 2023 has left amid concern about economy
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Dec 28, 2023 / 12:09 PM IST
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Dec 28, 2023 / 12:09 PM IST
All Rights Reserved. FT and Financial Times are trademarks of the Financial Times Limited Not to be redistributed, copied or modified in any way.
investor
Hudson Lockett and Cheng Leng in Hong Kong
Nearly nine-tenths of the foreign money that flowed into China’s stock market in 2023 has already left, spurred by mounting doubts about Beijing’s willingness to take serious action to boost flagging growth.
Since peaking at Rmb235bn ($33bn) in August, net foreign investment in China-listed shares this year has dropped 87 per cent to just Rmb30.7bn, according to Financial Times calculations based on data from Hong Kong’s Stock Connect trading scheme.
Traders and analysts said…