🇨🇳China Stocks See Largest Weekly Outflow Since October, Says BofA
Chinese stock funds saw the largest weekly outflow since October, as the government seeks to stem a decline in the stock market, according to Bank of America Corp. strategists.
About $1.6 billion was pulled… pic.twitter.com/uTbqAbcoaS
— Tracy (𝒞𝒽𝒾 ) (@chigrl) March 1, 2024
Chinese stock funds saw the largest weekly outflow since October, as the government seeks to stem a decline in the stock market, according to Bank of America Corp. strategists.
About $1.6 billion was pulled from Chinese funds in the week through Feb. 28, a team led by Michael Hartnett wrote in a note, citing EPFR Global data. Emerging market funds overall had their first redemptions since November at $1 billion.
Desperate property developers in China have resorted to gifts like new cars, free parking spaces, phones and other consumer goods to attract homebuyers and boost flagging sales.
www.cnbc.com/video/2024/02/29/how-chinas-property-bubble-burst.html