Chinese Investors Are Back to Dumping Hong Kong Stocks
Traders have sold more than $1 billion through the first two weeks of August
Chinese investors have lost their taste for Hong Kong stocks after a bump in demand in July. Mainland traders have been selling the city’s stocks this month, with net sales last week amounting to about HK$7.5 billion ($955 million), the third biggest weekly total on record, and another HK$4.5 billion sold this week, according to data compiled by Bloomberg. “Some mainland capital was forced to pull out due to deleveraging pressure on the mainland, while some chose to sell due to trade concerns and weaker expectations for the economy,” said Tang Jianzhuo, a Shenzhen-based portfolio manager at E Fund Management Co.
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