Analysis-Bulls beat a path to China stock shop but foreigners dare not go in [Yahoo! Finance]
BNP PARIBAS SPONS ADR (BNPQY)
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Source: Yahoo! Finance
of its struggling economy, domestic investors are scooping up shares in a cheap stock market, while most foreign investors are hopeful but taking it slow. Last week's sweeping measures to support the property sector, which authorities dubbed as historic, were the latest in a series of steps China has taken since February in a bid to boost consumption, funnel state money into priority sectors and underpin the stock market. Share prices have rebounded from multi-year lows in February on signs of more official support. The benchmark Shanghai index has climbed more than 3% since reports of the property rescue surfaced on Thursday, taking its gains to a fifth in 3-1/2 months, though the rally stalled on Tuesday as investors awaited more details on how the funding would work. Hong Kong-listed Chinese shares are up nearly 38%. Capital flow data shows that rally has primarily been driven by mainland investors returning to a market they abandoned during the pandemic years. Foreign money
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