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Foreign Funds Optimistic About A-shares - Journal

CHINA PRESS
MNI (Singapore)

There has been a large net inflow of northbound funds for several consecutive days, with foreign investment banks including Goldman Sachs and JPMorgan Chase suggesting clients increase their allocation to Chinese assets, China Securities Journal reported. The net inflow on November 14 was CNY16.6 billion, a new high for a single-day net inflow this year, the newspaper said. Foreign institutions believe the recent decline in A-share market presents a buying opportunity, and A-shares are more resilient against the headwinds of global economy, the newspaper said. The valuations of major A-shares indexes have dropped to historical low levels, with the price-earning ratio of the Shanghai Composite Index standing at 12.25 on Nov 16, the newspaper said.

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