HomeFinancial MarketsGlobal Funds in China Withdrawn At Record Rate

Global Funds in China Withdrawn At Record Rate

Overseas funding in China continued to be withdrawn on Thursday as the nation’s economy continues to struggle and the government looks to implement a rescue package such as economic stimulus to fuel a recovery. With foreign investors withdrawing 1.5 billion yuan ($208 million) in equities from China, this is the ninth consecutive day of outflows – the longest streak since Bloomberg began tracking the data in December 2016.

Over the past nine trading sessions, investors offloaded 46.2 billion yuan worth of equities. A lack of economic direction from the Chinese government has re-sparked fears of instability, thereby erasing a previous buying spree spurred by optimism surrounding renewed hopes of government intervention following its politburo meeting.

Meng Lei, China strategist at UBS Securities, observed that “Overseas investors are lowering their expectations for growth” after recent data and the government’s attempts to revive the flailing property sector.

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