China stimulus unleashes ETF buying spree in US and Europe

October 10, 2024-A scramble for Chinese equities united the global investment industry last month, just as attitudes towards European and Japanese stock markets became heavily bifurcated along geographical lines.

Despite strong domestic enthusiasm, foreign exchange traded fund investors turned their backs on European and Japanese stock markets in September.

Yet global investors were unified in their enthusiasm for Chinese stocks after the People's Bank of China unveiled a series of stimulus measures that included monetary easing, steps to support the country's crisis-hit property market and a Rmb800bn fund to boost the stock market, by lending to asset managers, insurers and brokers to buy equities and to listed companies to buy back their stock.

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Source: msn.com