Chinese funds cut Hong Kong stock holdings to 2-year low despite strong southbound flow

Chinese mutual funds have reduced their Hong Kong stock holdings via the southbound Stock Connect to a more than two-year low in the second quarter, despite a lot of money moving southward over the same period. The share of Hong Kong stocks in their portfolios fell to 23.3 per cent in the second quarter of this year, which was lower than the 23.9 per cent posted two years earlier, according to a report published by investment bank China International Capital Corporation on Thursday. It also...