ChinaAMC STAR 50 ETF Draws Record $2 Billion as China Broadens Market Rescue
Updated
Updated · Bloomberg · Jul 21
ChinaAMC STAR 50 ETF Draws Record $2 Billion as China Broadens Market Rescue
1 articles · Updated · Bloomberg · Jul 21
Summary
A record 13.8 billion yuan, or about $2 billion, flowed into the ChinaAMC STAR 50 ETF on Monday, the clearest new sign that support is reaching battered Chinese tech shares.
The fund is the largest ETF tracking the chip-heavy STAR 50 Index, where selling has been especially intense, making it a direct channel for efforts to steady the market.
The source of the buying was not immediately identified, but the scale of the inflows pointed to likely state-backed intervention as Beijing expands its stock-market rescue.