BEIJING, Sept. 2 (Xinhua) -- Overseas institutional investors resumed net purchasing of A-shares under the Shanghai-Hong Kong Stock Connect scheme despite the mild market recession in August, reported Xinhua-run Shanghai Securities News on Friday.
They, usually called northbound investors, contributed 14.289 billion yuan of net capital influx into the A-share market under the Shanghai-Hong Kong Stock Connect scheme in August, showed data with Choice, a popular financial data platform in China.
The Shenzhen-Hong Kong Stock Connect scheme reported, however, net monthly selling of 1.577 billion yuan in August.
Generally, northbound investors purchased A-shares in consumption-related food, beverage and medicine sectors as well as coal and transportation in the first half of August, held analysts with Northeast Securities. In the latter half of August, they shifted their attention to electrical equipment and new energy stocks.
By changes in the proportion of share holdings in the same company, new energy sector stocks gained explicit favor from northbound investors.
Shanghai- and Shenzhen-Hong Kong Stock Connect which started operating in 2014 and 2016 respectively, saw active trading this year, according to a research report with Goldman Sachs.
The report said that net capital influx brought by northbound investment has reached nine billion U.S. dollars since this year and may increase to 25 billion U.S. dollars in 2022. (Edited by Duan Jing with Xinhua Silk Road, duanjing@xinhua.org)
A single purchase
