HONG 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.Retail money has gushed into exchange traded funds (E
HONG 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. In contrast, the Dow Jones Industrial Average is up 4.3 per cent and Nasdaq has jumped roughly 30 per cent.Asset managers are finding the State Administration of Foreign Exchange is slow in approving further QDII quota, having already granted $5.8 billion in quotas in two rounds this year.
Becky Liu, head of China macro strategy at Standard Chartered Bank, reckons the QDII quota issuance has slowed and regulators may discourage overseas investments as part of efforts to stabilize the yuan.
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