Chinese stock funds attracted $4.4 billion in 8 days, fueling speculation of a state-run buying-spree
Chinese markets could be in the midst of a state-fueled boost as four exchange-traded funds see huge inflows over the last two weeks, according to a report from theThe FT cited data from Shanghai-based firm Z-Ben, which found that four ETFs have received $4.4 billion in inflows in eight trading days. The data has spurred speculation that Chinese markets are being propped up by Beijing's"national team," referring to large state-affiliated companies.
The CSI 300 has climbed 5.7% in the two weeks after those statements before pulling back at the end of last week. The index is about 33% below its peak seen in February 2021.
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