Surge in Foreign Buying Drove China Stocks’ Best Day in Months
- Northbound inflow jumped to 19.6 billion yuan on Wednesday
- Inflows coincided with biggest gain in CSI 300 since Feb.
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Global funds snapped up $2.7 billion worth of Chinese stocks on Wednesday, a sudden comeback that helped drive the best rally in more than five months.
The inflow was the biggest since a record 22.4 billion yuan ($3.1 billion) in April, and helped trim July’s outflow to around 17 billion yuan. Foreign funds had turned net sellers in recent months as a flurry of negative headlines on geopolitical tensions to slowing economy soured sentiment.