Foreign investors bullish on China's stock market

Source: Xinhua| 2019-02-23 09:32:58|Editor: Yang Yi
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BEIJING, Feb. 23 (Xinhua) -- China's A-share market has seen a stellar performance in the past few weeks, thanks partly to the bullish sentiment among overseas investors.

The benchmark Shanghai Composite Index stood above 2,800 points Friday, closing 1.91 percent higher.

The strong performance was supported by net inflows of funds through "northbound trading," or money invested from Hong Kong into the Chinese mainland through the stock connect programs, a sign that overseas investors have been increasing their position in the A-shares.

Friday marked the 18th straight day of such capital inflows, data from stock information website showed.

The A-share market has bottomed out after nearly three years of decline, resulting in an undervalued market, according to Yang Delong, chief economist of First Seafront Fund.

China's stock market is likely to see an inflow of foreign capital totaling about 600 billion yuan (about 89 billion U.S. dollars) in 2019, Fang Xinghai, deputy head of the China Securities Regulatory Commission predicted in January.