Chinese money is pouring into Hong Kong’s beaten-down stock market, highlighting the growing sway of mainland traders as political turmoil threatens to undermine the city’s status as a global finance hub.
Mainland Chinese investors’ holdings of Hong Kong-listed stocks bought through market link-ups with Shanghai and Shenzhen climbed to a new all-time high of $235.7bn on Tuesday, according to Financial Times calculations based on Bloomberg data.
On Monday, mainland purchases of Hong Kong shares via the Stock Connect schemes hit a new daily record of $2.5bn. That flurry of purchases arrived on the heels of Trump administration sanctions targeting top Chinese tech groups, many of which are listed in Hong Kong.
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