Record mainland inflows push Hang Seng past 30,000 points | Hong Kong | China Daily
Article summary
Mainland traders have bought a net US$27 billion worth of Hong Kong shares in January alone, nearing a third what they purchased in all of last year. The benchmark Hang Seng Index has gained 10 percent this year – about three times the advance of the MSCI All-Country World Index – for its best start since 1985. […] Li Changmin, managing director at Snowball Wealth in Guangzhou, increased exposure of Hong Kong stocks to about 20 percent of total holdings from “very little” before last week. […] READ MORE: Mainland cash boosting HK stocks sales after record year For some shares, southbound inflow comprises the majority of trading, accounting for 94 percent of China Mobile’s total turnover year-to-date and 74 percent for CNOOC Ltd. , Morgan Stanley strategists Laura Wang, Jonathan Garner and Fran Chen wrote in a Jan 19 report. […] Mainland funds bought in early 2018 and in March last year, only for investors to be disappointed when Hong Kong’s stock market lagged.
