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Offshore Investors Shed Chinese Equity Exposure At Fastest Clip Of ’23, Yuan Pressured

CROSS ASSET

The CSI 300 registered the lowest level observed since early January on Tuesday, also lodging its lowest closing print since that time, with familiar woes in the form of geopolitical tensions and domestic economic data trends touted as the drivers by most.

  • Net sales by international investors via the northbound legs of the Hong Kong Stock Connect schemes didn’t help, hitting the highest level observed since October (CNY7.98bn).
  • Weakness in Chinese equities and the selling by international investors weighed on the yuan, with USD/CNH moving back above CNH7.0600 today, as bulls eye a re-test of YtD highs (CNH7.0750). A break there would signal scope for a climb towards the top of the bull channel that is drawn from the Feb 2 low.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
EM BulletHomepageEmerging Market NewsEquitiesAT&T Market NewsBank of America Market NewsBulletMarketsFixed Income BulletsForeign Exchange Bullets
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
EM BulletHomepageEmerging Market NewsEquitiesAT&T Market NewsBank of America Market NewsBulletMarketsFixed Income BulletsForeign Exchange Bullets

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