Hong Kong has recorded the highest quarterly net outflow in a year of HKD239.17bn during the July to September quarter as investors pulled money out from equities and investment funds amid lacklustre returns. The quarterly outflow rose 34.4% from the previous quarter when net outflows totalled HKD177.9bn. The outflow was mainly driven by equities and came amid initial public offerings on the Hong Kong Exchanges and Clearing plummeting 74% for the first nine months this year from a year earlier. Samuel Tse, an economist at DBS Bank, the third quarter data does not account for the improvement in investors’ sentiments due to China’s reopening its economy in November as it transitions out of zero-Covid policies. Tse said he expected portfolio investment may revert to a net inflow during the fourth quarter.
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