Shanghai Stock Link Flows Plunge as CLSA Sees Ghost Train
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The flood of buy orders for Shanghai shares through the Hong Kong exchange link has slowed to a trickle two days after the program’s debut.
Net purchases of mainland equities by global investors totaled 2.6 billion yuan ($425 million) today, down from about 4.8 billion yuan yesterday and the maximum 13 billion yuan on Nov. 17. Hong Kong stock buying slowed 68 percent from yesterday to 253 million yuan. The Shanghai Composite Index slipped 0.2 percent and shares of Hong Kong Exchanges & Clearing Ltd. posted the biggest three-day drop since 2011.