Mar
02
Funds Exit Opening Door to China Bond Market as Risks Escalate
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January’s $7.6 billion foreign selloff double August’s number
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Foreign funds `pulling money out,’ not sending it in: Aberdeen
China is opening its bond market to foreign investors just as they head for the exit at a record pace amid warnings of rising debt risks.
Global funds’ holdings shrank by a record 49.6 billion yuan ($7.6 billion) to 553 billion yuan in January, Chinabond data going back to July 2014 show. That’s more than double the 22.7 billion yuan of net sales in August, when China shocked global markets by devaluing its currency. Aberdeen Asset Management Plc says investors are still withdrawing money, after the yuan slumped 3 percent in the past six months. Moody’s Investors Service Inc. cut China’s credit outlook to negative from stable on Wednesday…
Funds Exit Opening Door to China Bond Market as Risks Escalate
