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QINGDAO TODAY
在线翻译:
szdaily -> Markets -> 
Foreigners dive back into mainland stocks
    2019-04-01  08:53    Shenzhen Daily

FOREIGN investors are rekindling their interest in Chinese mainland-listed shares just days after selling the most on record, with fresh encouragement from strong corporate earnings and a rally rounding out the best quarter since 2014.

They net bought 11.1 billion yuan (US$1.7 billion) of Shanghai and Shenzhen-listed equities via exchange links with Hong Kong on Friday.

That’s the biggest single-day purchase since Dec. 3 and turned the tables on a month that was heading for net outflows: in the end there were 4.4 billion yuan in inflows in March.

The Shanghai Composite Index jumped 3.2 percent Friday, taking its world-beating rally this year to 24 percent, amid better-than-expected results from companies including Kweichow Moutai Co. The liquor giant, a favorite of overseas investors, rose 5.9 percent, its biggest gain since Dec. 3.

“Moutai earnings are strong, and that spurred the inflow today,” said Hong Hao, chief strategist at Bocom International Holdings Co. “Expectation of no rate hike in the United States this year also spurred fund flows into Chinese assets.”

Offshore investors have been net buyers of Shanghai and Shenzhen-listed A shares in all but two months since a second exchange link with Hong Kong opened in late 2016. They net bought a record average 4 billion yuan in A shares per day in February, before MSCI Inc. decided to boost the weight of Chinese stocks in its universe. (SD-Agencies)

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