Aug
08
Chinese Investors Turn Against Hong Kong Stocks Amid Market Rout
By-
Selling last week was third highest on record: Bloomberg data
- Mainland traders cut stakes in 15 of 50 HSI members this year
Chinese investors have gone off Hong Kong stocks again.
After turning net buyers in July, mainland traders have been selling the city’s stocks this month, returning to an April-June trend, when they dumped HK$24 billion ($3 billion) shares over a record three consecutive months. The reversal came as the Hong Kong benchmark declined every day last week, but investors continued to pull out Monday through Wednesday, when the Hang Seng Index rose 2.5 percent…
Chinese Investors Turn Against Hong Kong Stocks Amid Market Rout