Guest
A lackluster recovery in China's economy is prompting investors to change their strategies. Not only are foreign investors pulling out more money from China's stock market, flocking to other major Asian markets instead, but shareholders of Chinese listed companies are also cashing in by reducing their holdings. Moreover, China's A-share market is witnessing its largest delisting wave in history. Multiple indicators suggest that the Chinese stock market has entered a bear market. On June 6, China's main A-share index fell sharply again following a decline the previous day. The Shanghai Composite Index fell by %, dropping below the 3200 point mark, hitting its lowest level since January 13. 90% of stocks declined that day, with industries like electronics, semiconductors, power, military, and sensors suffering the most, led by a drop in Apple concept stocks. Luxshare Precision, a key Apple concept stock, fell by %, GoerTek Inc. by %, and Shenzhen Everwin Precision Technology by a staggering %. Meanwhile, foreign capital continued to withdraw; on June 6, foreign investors sold off billion yuan (approximately 151 million USD) via the Shanghai-Hong Kong Stock Connect, a key cross-border channel between mainland China and Hong Kong stock exchanges. #chinamarket #chinastocks #chinaeconomy #chinaobserver All rights reserved.
