China Stocks Jump Most Since July Amid Record Foreign Purchases
- Overseas investors buy record A shares through Hong Kong links
- Offshore yuan breached 6.4 level to strongest since June 2018
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China’s equity benchmark rallied by the most since July as investors piled into stocks amid attempts by policymakers to contain commodity prices. The yuan also advanced to its strongest since 2018.
The CSI 300 Index closed 3.2% higher at its strongest since early March, driven by gains in consumer staples equities. The surge came as overseas investors net purchased 21.7 billion yuan ($3.4 billion) worth of A shares via links with Hong Kong on Tuesday, the most ever.