China Stocks Drop Due to Strong Foreign Outflows

Shanghai: According to the latest updates, China’s stocks have dropped, and yuans have weakened due to the pressure of the US dollar and the high sales by foreign investors, even as the statistics disclosed the economy is slowly improving.

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Below are the details of China’s Stocks Drop Due to Strong Foreign Outflows:

  • Through the stock connect, foreign investors have almost sold out a net of around 9 billion yuan ($1.25 billion) of Chinese shares today, making it a huge daily outflow since mid-January.
  • The broad Asian markets also saw a drop due to the lack of direction as investors waited for Friday’s US main inflation data release.
  • In the middle of the day, the Shanghai Composite Index also faced a drop of around 0.52% to 3,015.74 points.
  • China’s blue-chip CSI300 index dropped by around 0.46%; the consumer staples sector, on the other hand, dropped by 0.89%; the real estate index dropped by 2.3%, and the healthcare sub-index dropped by around 0.39%.
  • The Chinese H-shares listed in Hong Kong have also dropped around 0.9% to 5,773.2, whereas the Hang Seng index fell by around 0.63% to 16,512.92.
  • The Shenzhen index also fell by 1.52%, while the start-up board ChiNext Composite index dropped by 1.46%, and Shanghai’s tech-focused STAR50 index also fell by 1.12%.
  • The Hang Seng Tech index has lost around 1.7%, whereas the Hang Seng Mainland Properties index added around 0.5%.
  • MSCI’s Asia ex-Japan stock index saw a drop of 0.14%, whereas Japan’s Nikkei index saw a rise of 1.14%.

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