Foreign investors pulled out of Chinese onshore stocks for a fourth straight month in November, extending a record exodus amid lack of conviction about the strength of recovery in the world’s second-largest economy.
Alibaba Group stunned investors when it announced that it would suspend the listing plan of its cloud computing unit, while also revealing that cofounder Jack Ma intends to sell some of his shares.
Chinese manufacturers of machinery, textiles and electronics with significant exposure to the US market could extend gains, as the upcoming meeting between President Xi Jinping and US President Joe Biden has stoked hopes of a reduction in US tariffs and an easing of technology curbs.
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