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Northbound Funds Net Inflow Hit New High

CHINA PRESS
MNI (Singapore)

The single-day net purchase of northbound funds near CNY19 billion hit a new high this year on Tuesday, along with major A-share indexes moving higher across the board as the Politburo meeting this week largely boosted confidence in the economic outlook. It also marks the sixth single-day net purchase record since the opening of the Shanghai and Shenzhen Stock Connect. Meanwhile, the falling U.S. dollar index and stronger yuan will fuel a return of overseas funds. The net inflow of northbound funds this year is expected to be about CNY300 billion, after reaching about CNY200 billion so far, said Meng Lei, China Equity Strategist at UBS Securities.

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