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Foreign investors sell US$3.15 billion of their Chinese equities
来源：shippingazette 编辑：编辑部 发布：2023/09/28 16:46:15
FOREIGN investors have dumped a further CNY23 billion (US$3.15 billion) of Chinese equities so far this month following record outflows in August, reports London's Financial Times.
Selling through China's Stock Connect schemes, which allow foreign investors to trade onshore equities, has been at a slower pace so far than during the previous month when US$12 billion worth of stocks were sold through them. Yet Chinese equity markets are still on track for one of their biggest net monthly outflows this year.
China's CSI 300 index of top stocks has remained flat, despite better than expected figures for retail sales and industrial production being reported, and a moderate improvement in the official manufacturing purchasing managers' index (PMI) released late last month. Hong Kong's Hang Seng China Enterprises index has shed two per cent last week.
"We think the economy has already bottomed, that has been confirmed by data," said Dong Chen, head of Asia macro research at Pictet Wealth Management. "In terms of the market?.?.?. what we're seeing is overall sentiment continues to be very downbeat."
Selling through China's Stock Connect schemes, which allow foreign investors to trade onshore equities, has been at a slower pace so far than during the previous month when US$12 billion worth of stocks were sold through them. Yet Chinese equity markets are still on track for one of their biggest net monthly outflows this year.
China's CSI 300 index of top stocks has remained flat, despite better than expected figures for retail sales and industrial production being reported, and a moderate improvement in the official manufacturing purchasing managers' index (PMI) released late last month. Hong Kong's Hang Seng China Enterprises index has shed two per cent last week.
"We think the economy has already bottomed, that has been confirmed by data," said Dong Chen, head of Asia macro research at Pictet Wealth Management. "In terms of the market?.?.?. what we're seeing is overall sentiment continues to be very downbeat."