Foreign investors in China using the Hong Kong-Shanghai stock connect sold a net RMB1.7 billion (US$274 million) in mainland shares in the week through Monday, suggesting global investors are losing faith in Shanghai’s remarkable rally, Bloomberg reported. Meanwhile, the two biggest Hong Kong exchange-traded funds tracking mainland stocks saw withdrawals of US$622 million for the same period, and money flowing out of the market linkup again on Tuesday as the Shanghai Composite Index dropped from a seven-year high. While international analysts have expressed concerns about a bubble, mainland traders are opening stock accounts at the fastest pace on record.
Categories