Surge in Foreign Buying Drove China Stocks’ Best Day in Months

 

• Northbound inflow jumped to 19.6 billion yuan on Wednesday
• Inflows coincided with biggest gain in CSI 300 since Feb.

Global funds snapped up $2.7 billion worth of Chinese stocks on Wednesday, a sudden comeback that helped drive the best rally in more than five months.

The inflow was the biggest since a record 22.4 billion yuan ($3.1 billion) in April, and helped trim July’s outflow to around 17 billion yuan. Foreign funds had turned net sellers in recent months as a flurry of negative headlines on geopolitical tensions to slowing economy soured sentiment.

https://www.bloomberg.com/news/articles/2024-08-01/surge-in-foreign-buying-drove-china-stocks-best-day-in-months