BofA Says China Leads Historic Flows Into Emerging-Market Stocks
- Rush of money came amid stimulus measures from Beijing
- Buy China stocks is world’s most enticing trade, Hartnett says
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Money flooded into beaten-down Chinese shares over the past week as authorities in Beijing ramped up stimulus measures to support the ailing stock market, according to Bank of America Corp. strategists.
A total $11.9 billion was allocated to Chinese shares in the week through Jan. 24, the second-highest weekly tally ever, a team led by Michael Hartnett said, citing EPFR data. That accounted for almost all of the record $12.1 billion of funds that rushed into emerging-market equities.