Foreign investors unwind $33bn bet on China growth rebound

News Snapshot:

Pedestrians on a bridge in Shanghai, China. Traders and analysts said the investment reversal reflected pessimism over the outlook for the world’s second-largest economy among global fund managers. Photograph: Qilai Shen/Bloomberg Nearly nine-tenths of the foreign money that flowed into China’s stock market in 2023 has already left, spurred by mounting doubts about Beijing’s willingness to take serious action to boost flagging growth. Since peaking at Rmb235 billion (€29.8 billion) in August, net foreign investment in China-listed shares this year has dropped 87 per cent to just Rmb30.7 billion, according to Financial Times calculations based on data from Hong Kong’s...