SHANGHAI :
Infusion of Overseas Funds Revives Chinese Stock Markets After 9% Drop
Xu Wei
DATE:  Feb 03 2020
/ SOURCE:  yicai
 Infusion of Overseas Funds Revives Chinese Stock Markets After 9% Drop Infusion of Overseas Funds Revives Chinese Stock Markets After 9% Drop

(Yicai Global) Feb. 3 -- Funds flowing in from offshore market gave Chinese mainland stock markets just the shot in the arm they needed to arrest their slide and recover somewhat after opening around 9 percent lower, felled by the novel coronavirus sweeping China and the world.

The Shanghai Composite Index closed 7.72 percent lower at 2,746.61, while the Shenzhen Component Index ended down 8.45 percent at 9,779.67. The ChiNext Price Index, which tracks growth enterprises in Shenzhen, drooped 6.85 percent to 1,795.77.

Funds from the Hong Kong Stock Connect program hit a new one-month high at CNY20 billion today [USD2.85 billion], with the inflow through the Shanghai Stock Connect being CNY15 billion, and the indraft via the Shenzhen Stock Connect CNY4.9 billion, public data show.

Editor: Ben Armour

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