China Stocks See Largest Weekly Outflow Since October, Says BofA
- Investors pulled out $1.6 billion from Chinese stock funds
- Focus to shift on National People’s Congress on Tuesday
Pudong's Lujiazui Financial District in Shanghai.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
Chinese stock funds saw the largest weekly outflow since October, as the government seeks to stem a decline in the stock market, according to Bank of America Corp. strategists.
About $1.6 billion was pulled from Chinese funds in the week through Feb. 28, a team led by Michael Hartnett wrote in a note, citing EPFR Global data. Emerging market funds overall had their first redemptions since November at $1 billion.