Global investors have been offloading China’s flagship stocks in a record-selling streak, showing the nation’s industry leaders are falling out of favour amid concerns for the economy.
Foreign investors sold 6.2bn yuan (£676m) of Kweichow Moutai from August 7 to 18, making China’s largest spirits maker the most heavily sold stock via trading links with Hong Kong.
It was followed by 4.7bn yuan of selling each for leading renewables stock LONGi Green Energy Technology and major lender China Merchants Bank.
Overseas funds have been fleeing the Chinese market, offloading the equivalent of £7.3bn in a twelve-day run of withdrawals to Tuesday, the longest since Bloomberg began tracking the data in 2016.
The exodus comes after China underwhelmed markets with its…
