STORY CONTINUES BELOW THESE SALTWIRE VIDEOSHONG KONG/SHANGHAI - Disillusioned with a weak stock market at home, geopolitical risks and a falling currency, Chinese investors are pouring money into investment products with exposure to overseas assets that will also help diversify their portfolios.
"Demand for U.S. stocks has emerged since late last year and has strengthened this year due to the lucrative returns. The Nasdaq ETF sold exceptionally well," said Ivan Shi, head of research at Shanghai-based fund consultancy Z-Ben Advisors. Tianhong Asset Management, which is backed by Ant Financial, launched three QDII products in the first half of the year, with mandates to track the Nasdaq 100 Index, overseas high-end manufacturing shares and overseas electric vehicles stocks. The size of its fund investing in Vietnam hit a record this year.
China has already asked domestic lenders to scale back outflows via Bond Connect, sources told Reuters last week.
Source: News Formal (newsformal.com)
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