China Stocks Snapped Up by Overseas Buyers Amid Housing Measures
- Foreigners spent most on the shares since a late-April record
- Optimism from across the border may be starting to come back
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Foreign buyers swooped in to purchase Chinese stocks on Friday as Xi Jinping’s government announced a slew of measures to bolster the housing market.
Traders purchased 14 billion yuan ($1.9 billion) of A-shares on Friday via the links with Hong Kong, the most since a record day in late April. That came as Beijing announced its most forceful attempt yet to rescue the beleaguered Chinese property market, including relaxing mortgage rules.