Foreign investors are fleeing Chinese stocks once again, cutting short a four-month stretch of inflows as concerns over the slowing economy and earnings overshadow policy optimism.
Global funds sold 49.4 billion yuan ($6.8 billion) of onshore shares via the trading links with Hong Kong in June through Wednesday, putting the market on track for the first monthly outflow since January.
The outflows have contributed to the stock market’s declines, with the MSCI China gauge falling into correction territory on Thursday. The CSI 300 Index of onshore shares has also slipped more than 6% since a mid-May high.
The recent downtrend marks a reversal from earlier this year, when bets that Beijing would take bigger steps to support the economy drove a bull run in Chinese stocks. While some investors are holding on to hopes that the July 15-to-18 third plenum will offer new impetus, the bar is high for Beijing to impress investors and revive sentiment.
“There was some exuberance around policy support particularly for the property sector and the state of the economy, leading to a meaningful rally,” said Xin-Yao Ng, director of investment at abrdn. “After the initial euphoria, I feel investors have started to sit back and look more closely at these and realized that things are much less clear cut than they had thought.”
IRAs now hold nearly twice the assets of 401(k) plans — and most of that money didn't arrive through annual contributions.
A new survey finds that many women prioritize financial security but continue to leave savings in accounts that may not keep pace with inflation.
Roundhill, Bitwise and GraniteShares funds remain on hold while the agency weighs how novel ETFs should be regulated.
"Shares of alternative assets managers have lagged this year as investors grow wary of private-credit exposure."
The fintech platform is touting a new AI-free Planning Observations feature, which draws on IRS tax records to uncover opportunities for advisors.
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
Direct indexing is on pace to outgrow ETFs and mutual funds. Northern Trust's Ken Lassner explains why the advisors who get it wish they had started sooner.
