Record Chinese Inflows Push Hong Kong Stock Index Past 30,000
- Mainland buying in the city is nearing $30 billion in January
- Lower valuations after U.S. investment ban increased interest
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Investors in mainland China are showing unprecedented interest in Hong Kong stocks, powering the city’s fastest rally for a new year in more than three decades.
Mainland traders have net purchased nearly $29 billion worth of Hong Kong shares in January alone, nearing a third what they bought in all of last year. Keyword searches and references for “Hong Kong stocks” on Tuesday reached 6.3 million on WeChat, China’s most popular instant-messaging tool, seven times the amount at the end of December, according to app data.