Largest ETF Outflows in Over a Year a Warning for China’s Stock Rally

(Bloomberg) — Investors pulled money from exchange-traded funds (ETFs) in China in May for the first time in 15 months, raising questions over the strength of a recent stock market rebound.

Equity ETFs in Shanghai and Shenzhen saw a combined withdrawal of $4.2 billion in the month through Monday, according to data compiled by Bloomberg. That’s more than what investors had poured into the funds in the prior two months.