FILE PHOTO: Investors sit in front of a board showing stock information at a brokerage house on the first day of trade in China since the Lunar New Year, in Hangzhou, Zhejiang province, China February 3, 2020. China Daily via REUTERS
The trend marks a reversal in the risk-seeking behaviour seen during March-June and has caused the country’s blue-chip index to pull back from its highest in more than five years. MMFs are traditionally considered low-risk and liquid as they normally invest in high-quality assets, including government bonds, and yield is closely related to general cash conditions in the financial system.
Hwabao Tianyi ETF , the largest money market ETF listed on the Shanghai Stock Exchange, saw its total units increase 35.6% to 968 million on Aug. 3, from 714 million on July 13 when the CSI300 blue-chip started to retreat from its five-year high.
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