Foreigners Return to China Bluechips as Stocks Near Bull Market

[beijingwalker]

Foreigners Return to China Bluechips as Stocks Near Bull Market​

• Overseas investors stocking up on consumer staples, financials
• Net buying in two weeks has reached nearly the amount for 2022

By Bloomberg News
2023年1月16日 GMT+8 下午2:38

Global investors are snapping up Chinese bluechips from large consumer staples to financial firms again as the nation’s stocks rally on optimism about a reopening from Covid curbs.

Anticipating a demand rebound, foreign investors have bought about 12 billion yuan ($1.8 billion) of liquor firm Wuliangye Yibin Co. via a trading link with Hong Kong in 10 weeks through Jan. 10, followed by more than 10 billion yuan of spirits maker Kweichow Moutai Co., according to data compiled by Bloomberg.

They also bought a similar amount in Ping An Insurance Group Co. of China during the period given expectations of benefits from Beijing’s property rescue efforts.

Foreigners Return to China Bluechips as Stocks Near Bull Market

Global investors are snapping up Chinese bluechips from large consumer staples to financial firms again as the nation’s stocks rally on optimism about a reopening from Covid curbs.

www.bloomberg.com

 

[Mista]

Well, I have to thank Xi for giving me the opportunity to buy good quality Chinese stocks like Alibaba when they were so undervalued. They are still undervalued now. Now I just have sit on and wait for confidence to recover.