China’s ‘National Team’ Gets Active in ETFs as Stocks Slump
- ETFs bought by Huijin in prevous rout seeing higher inflows
- CSI 300 Index caps week with longest losing streak since 2012
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Some exchange traded funds favored by China’s sovereign wealth fund have seen spikes in inflows after the country’s stocks tumbled below a key psychological level.
Daily inflows into four ETFs that Central Huijin Investment Ltd. purchased during a market slump have more than doubled from this year’s average in the past two weeks, according to Bloomberg calculations. The more active buying came after the Shanghai Composite Index closed below 3,000 points for the first time since March on June 21.