Markets
Foreigners Dump Most China Stocks on Record as Rally Falters
- Shanghai Composite Index slides 2% to close below 3,100 points
- Overseas investors grow risk-averse amid global rout, KGI says
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Foreigners dumped the most Chinese shares on record via stock trading connects as they steered away from risk and the country’s benchmark index fell below a key level.
Overseas investors net sold 10.8 billion yuan ($1.6 billion) of mainland shares Monday, the biggest single-day sale since the second exchange link with Hong Kong opened in December 2016, according to data compiled by Bloomberg. The Shanghai Composite Index joined a global rout on growth concerns, sliding 2 percent to close below the 3,100-point level it has been trying to overcome this month.