May 20, 2024 02:24 PM
FINANCE
Overseas Buyers Snap Up China Stocks Amid Housing Measures
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A bull statue in front of the Shenzhen Stock Exchange building in Shenzhen on May 7. Photo: Bloomberg
(Bloomberg) — 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.
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