(Bloomberg) A record amount of Chinese money is flowing into overseas equities as despondent investors seek a way out of the sagging local stock market. Most Read from BloombergMeta’s $197 Billion Surge Is Biggest in Stock-Market HistoryUS Hits Iranian Militias in Syria, Iraq With Wave of StrikesThe Most Popular Man in Ukraine Has Become a Problem for ZelenskiyDonald Trump Loses London Case Against Ex-MI6 Spy Over Kremlin DossierA $560 Billion Property Warning Hits Banks From NY to TokyoInflo
China’s biggest money manager E Fund Management will purchase 200 million yuan (US$27.3 million) of its own exchange-traded fund (ETF) product from the open market after a heavy fall in its book value, reflecting the heavy losses suffered by benchmark for the world’s second biggest stock market.
China stocks fell on Wednesday, as investors were cautious amid uncertainties during the Communist Party congress, even as a raft of state-backed and large asset managers announced measures to stabilise the market. Hong Kong shares also snapped a two-day rally, while the city's leader delivered his first policy address.
China stocks closed lower on Wednesday, as investors were cautious amid uncertainties during the Communist Party Congress, even as a raft of state-backed and large asset managers announced measures.