22 March 2019

Yuan investors pulling money from China, WSJ says

Assets managed by funds that use offshore yuan to invest in mainland China shrank in March at the fastest pace in nine months, the latest sign of investor unease with the world’s second largest economy, the Wall Street Journal reported Wednesday, citing its own analysis. The 14 biggest fell by 5.3 billion yuan (US$853.9 million), losing about 14 percent of their value, the report said, citing filings with the Hong Kong stock exchange. That is the biggest decline since last June, according to Morningstar, an independent investment research company. These 14 funds account for more than half of the total value of funds that use yuan raised offshore to buy stocks and bonds in mainland China, it said.

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