Global Funds Abandon China Blue Chips in $11 Billion Selloff

what has been a record-breaking selling spree, international investors have been dumping off China's blue-chip equities.

The (Bloomberg) The longest run of withdrawals by foreign investors from China’s blue-chip stocks demonstrates that even the China Blue Chips in $11 Billion Selloff country’s market leaders are losing popularity as the crisis worsens.

Kweichow Moutai Co. was sold by foreign investors for 6.2 billion yuan ($851 million) between August 7 and 18, making it the most actively traded stock through trading relationships with Hong Kong.

According to the most recent information on individual stocks accessible on Bloomberg, it was followed by 4.7 billion.

Yuan of selling for each of the top lenders China Merchants Bank Co. and leading renewables stock LONGi Green Energy Technology.

The longest streak of withdrawals from overseas funds since Bloomberg started monitoring the data in 2016 lasted for thirteen days through Wednesday, dumping the equivalent of $10.7 billion.

From the mainland market. Their departure occurs at a time when a protracted housing downturn increases.

The potential of wider financial contagion, making the country’s equity benchmark one of the worst performers globally this month with a loss of about 8%.

Since November, the CSI 300 Index has not traded this low, as the excitement that followed the Politburo meeting in July swiftly subsided.

China Blue Chips in $11 Billion Selloff

Back then, a large number of foreigners entered the market, only to leave it again in large numbers today as economic data continue to be unimpressive and stimulus efforts fall short of expectations.

The 50 largest stocks on the CSI 300 were among the 10 most heavily sold stocks by foreigners during the most recent crash.

Through August 18, major distiller Wuliangye Yibin Co., Chinese insurer Ping An Insurance Group Co., and EV manufacturer BYD Co. each recorded sales of at least 2.9 billion yuan.

According to a Bloomberg Intelligence report, emerging market funds have become increasingly pessimistic on Chinese stocks.

Increasing their average underweight position from 24 basis points three months earlier to roughly 100 basis points as of the second quarter. By the end of 2022, they were 40 basis points overweight.

There are currently few signs that the selling run will end. On Wednesday, overseas investments lost a further 10.5 billion yuan.

A top-performing Chinese macro hedge fund referred to foreign money as a “bunch of aimless flies” that cause market instability and blamed it for driving down the value of the nation’s stocks.

Nevertheless, a study this month from China International Capital Corp. Indicates that less than 4% of the total number of outstanding A-shares are owned by international investors.

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The longest run of withdrawals by foreign investors from China’s blue-chip stocks demonstrates that even the country’s market leaders are losing popularity as the crisis worsens. China Blue Chips in $11 Billion Selloff .

Kweichow Moutai Co. was sold by foreign investors for 6.2 billion yuan ($851 million) between August 7 and 18, making it the most actively traded stock through trading relationships with Hong Kong.

According to the most recent information on individual stocks accessible on Bloomberg, it was followed by 4.7 billion yuan of selling for each of the top lenders.

China Merchants Bank Co. and leading renewables stock LONGi Green Energy Technology Co.

SHENZHEN – Global investors have been selling China’s blue-chip stocks at a record pace, indicating that even the country’s market leaders are losing favor as the crisis worsens.

From August 7 to August 18, foreign investors sold 6.2 billion yuan (S$1.2 billion) worth of Kweichow Moutai stock, making it the most actively traded stock through trading connections with Hong Kong.

According to the most recent information on individual stocks accessible on Bloomberg, it was followed by 4.7 billion yuan of selling for both.

The leading renewables stock LONGi Green Energy Technology and the significant lender China Merchants Bank.

In a 12-day period ending on Tuesday, overseas funds withdrew the equivalent of

the longest withdrawal streak since Bloomberg started monitoring the data in 2016.

Their departure occurs at a time when a protracted housing downturn increases the possibility of wider financial contagion, making the nation’s equity benchmark one of the worst performers in the world in August with a 7% loss.

China Blue Chips in $11 Billion Selloff

The CSI 300 Index is currently trading close to its lowest level since. November as the excitement that followed the Politburo meeting in July swiftly subsid.

Back then, a large number of foreigners entered the market, only to leave it again in large numbers. Today as economic data continue to be unimpressive and stimulus efforts fall short of expectations.

The 50 largest stocks on the CSI 300 were among the 10 most heavily. Sold stocks by foreigners during the most recent crash.

Through August 18, major distiller Wuliangye Yibin. Ping An Insurance Group, and electric car manufacturer BYD all reported sales of at least 2.9 billion yuan apiece.

According to a Bloomberg Intelligence report, emerging market funds have become increasingly pessimistic on Chinese stocks.

Increasing their average underweight position from 24 basis points. Three months earlier to roughly 100 basis points as of the second quarter. By the end of 2022, they were 40 basis points overweight.

There are currently few signs that the selling run will end. By mid-Wednesday, overseas funds had once more lost more than 7 billion yuan.

China Blue Chips in $11 Billion Selloff, what has been. Breaking selling spree, international investors have been dumping off China’s blue-chip equities.

A top-performing Chinese macro hedge fund refer to foreign money. Bunch of aimless flies that cause market instability and blamed it for driving down the value of the nation’s stocks.

However, a study this month from China International. Capital indicates that less than 4% of the total outstanding A-shares are own by foreign institutions. BLOOMBERG

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