Beijing restricts trading data as foreign investors flee Chinese stocks

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Overseas flows into China’s equity market have turned negative for the year after $12bn exodus since start of June

Chinese authorities have restricted a key source of data on inward investment as global funds continue to pull money out of the country’s stock market, threatening to make 2024 the first year of equity outflows. On Monday, daily data showing net investment flows from foreign funds into stocks in mainland China — so-called northbound trades from Hong Kong via the Stock Connect trading link — was no longer available. Information on foreign stock holdings will instead be available quarterly.

Chinese regulators had already cut off live trading data on foreign investors’ dealings in May. The CSI 300 index of the top companies traded on the Shenzhen and Shanghai stock exchanges is down 1 per cent since the start of the year, as a rebound that began in late February fizzles out. By contrast, Wall Street’s S&P 500 is up 17 per cent and India’s Nifty 50 index has gained 13 per cent. Chinese authorities have in the past restricted access to data that could be interpreted negatively.

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