Offshore Buyers Bidding for Bargains Buoy Chinese Mainland Shares
Xu Wei
DATE:  Feb 04 2020
/ SOURCE:  yicai

(Yicai Global) Feb. 4 -- Offshore funds flowed into Chinese mainland market as a bargain-buying binge kept up for the second straight day amid plummeting prices, causing shares to rebound after the main stock indexes had slid over 2 percent at the opening bell under the onslaught of the novel coronavirus sweeping China and the world.

The Shanghai Composite Index closed up 1.34 percent to 2,783.29, while the Shenzhen Component Index climbed 3.17 percent to 10,089.67. The ChiNext Price Index, which tracks growth enterprises in Shenzhen, soared 4.84 percent to 1,882.69.

The Hong Kong Stock Connect program infused CNY8 billion today in funds, which surged to a one-month high of CNY20 billion yesterday.

Editor: Ben Armour

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