Investors sold $1.08m (869m yuan) in equities via the Shanghai and Shenzen exchange links on Wednesday.
Bloomberg reports that even the most die-hard investors from the Mainland are abandoning ship as losses grew with investors selling $1.08m (869m yuan) via exchange links with Shanghai and Shenzen on Wednesday.
This posts the largest net selling by mainland investors since August.
This comes as the benchmark Hang Seng Index and the Hang Seng China Enterprises Index still both dropped more than 6% over Monday and Tuesday even as investors injected a net $22.67b (US$2.9b) into stocks in the first two days of the week, taking net inflows to $140.72b (US$18b).
Chinese buying of Hong Kong stocks could slow considerably and is unlikely to prevent a correction in coming months, Bank of America Corp. strategists including David Cui wrote in a note.
Here’s more from Bloomberg:
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