Net foreign inflows to China's stock market tumbled 77% dumped $25 billion worth shares
The article reported that more than three-fourths of offshore investment in Chinese stocks has been withdrawn this year, with foreign net purchases nearing their smallest annual amount since 2015, the Financial Times reported.
This may explain why Chinese EV stocks like Nio, Xpeng and Li Auto are on the downtrend from a year ago.
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The capital flight has been rapid as well. From an early-August high of 235 billion yuan ($32.6 billion), net foreign inflows to China's stock market have tumbled 77%, representing more then $25 billion in shares, according to the FT's analysis of data from Hong Kong's Stock Connect.
Despite Beijing's myriad efforts to shore up global confidence in its economy, its actions have proven insufficient to many investors. China's property sector has continued to notch new defaults, while exports, manufacturing, and consumption have been lackluster.
Quote:
The capital flight has been rapid as well. From an early-August high of 235 billion yuan ($32.6 billion), net foreign inflows to China's stock market have tumbled 77%, representing more then $25 billion in shares, according to the FT's analysis of data from Hong Kong's Stock Connect.
Despite Beijing's myriad efforts to shore up global confidence in its economy, its actions have proven insufficient to many investors. China's property sector has continued to notch new defaults, while exports, manufacturing, and consumption have been lackluster.
Source:
$BYD COMPANY(01211.HK$ $BYD Co.(BYDDF.US$ $S&P 500 Index(.SPX.US$ $Nasdaq Composite Index(.IXIC.US$ $Tesla(TSLA.US$ $VOLKSWAGEN A G(VWAGY.US$ $NIO Inc(NIO.US$ $Li Auto(LI.US$ $XPeng(XPEV.US$ $General Motors(GM.US$ $Ford Motor(F.US$ $Rivian Automotive(RIVN.US$ $MERCEDES-BENZ GROUP AG(MBGAF.US$ $TOYOTA MOTOR CORP(TOYOF.US$ $GEELY AUTO(00175.HK$ $Stellantis NV(STLA.US$
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I reflected trading experiences by writing journals. My comments are for educational purposes not financial advice.
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