Foreign funds are reducing their exposure to mainland Chinese equities, even as the market shows further signs of stabilising after a month-long rollercoaster ride.
International investors were net sellers of Chinese shares through the Shanghai-Hong Kong Stock Connect for a seventh straight session yesterday. Offshore investors have cut their holdings via the link by Rmb44.2bn ($7.1bn) since July 6.
Fund managers have taken flight as Beijing has adopted drastic measures to prop up the market, steps that finally appear to be working.
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