Participants in Hong Kong’s Mandatory Provident Fund program pulled a net HK$384 million out of Hong Kong and Chinese stocks, the biggest monthly total in four years, according to data from MPF Rating, a consultant that tracks the city’s retirement savings. There were HK$210 billion of MPF assets in those equities to end May.
Meanwhile, regional equity funds excluding Asia was the asset class with May’s biggest net inflow at HK$1.17 billion. More than 80% of that went into U.S. equities, MPF Rating data showed. May’s outflows from Hong Kong and Chinese stocks came as fresh questions emerged about Hong Kong’s future. Late in the month, China
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