Investors are selling large blocks of Asian shares in record amounts as they rush to book profits from resurgent markets.
Nearly $18bn worth of stock in Chinese and Indian companies has changed hands in “block trades” in 2015 so far — more than three times the amount in the same period last year — as shareholders take advantage of buoyant markets and improving liquidity to offload large stakes.
Asian stocks have gained 13 per cent this year, according to the MSCI Asia Pacific index, compared with 2.9 per cent for the S&P 500. China’s benchmark Shanghai Composite has jumped 36 per cent while Hong Kong’s Hang Seng index added 13 per cent this month for a 19 per cent gain so far this year.