Overseas investors have continued to buy Chinese shares even though tensions between the U.S. and China have at times threatened market sentiment, according to the president of UBS Securities.
Stocks in China rose on Monday after U.S. President Donald Trump and Chinese President Xi Jinping agreed at the G-20 summit to hold off slapping new tariffs on each other’s products.
Eugene Qian, president of UBS Securities, said on Monday that foreign investors have for the last 12 to 18 months been looking for opportunities to buy the so-called A shares — which are yuan-denominated stocks of Chinese companies listed in Shanghai and Shenzhen.
He told that an estimated $70 billion “should come into A shares by the end of the year.” That’s because foreign ownership of Chinese stocks is set to grow as major index providers such as MSCI add more A shares into their global indexes, Qian said at the World Economic Forum in Dalian, China.
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