Pedestrians near an overpass with an electronic board showing stock information at the Lujiazui financial district in Shanghai on March 17, 2020. Photo: Reuters
China’s mutual funds, armed with cash from Ant Group’s foiled IPO, plough into Tencent, HKEX and other Hong Kong-listed stocks
- The five mutual funds that were supposed to buy into Ant Group’s IPO have earned decent returns by scooping up Hong Kong stocks instead
- They contribute to the record inflows of mainland funds into Hong Kong, fuelling the stock market’s best start to a year since 1985
Follow your favourite topic and get notified
Pedestrians near an overpass with an electronic board showing stock information at the Lujiazui financial district in Shanghai on March 17, 2020. Photo: Reuters
