Foreign cash streaming back to China after Alibaba’s plans
Foreign investors are steadily marching into China in the wake of Alibaba’s plans to restructure, with money managers reckoning it is the latest sign the national leadership is turning friendlier to business as economic growth gains traction.
Exchange data shows net foreign buying of mainland-listed stocks every day since Alibaba announced its intention to split up and float its business units last week, for a record quarterly total.
Investors have also turned positive on the company and the stock is up this year after heavy falls in 2021 and 2022.
The flow may be signalling a shift in sentiment among foreign investors who have been notably absent while China’s markets and economy roared back to life after Beijing abruptly lifted its stringent zero-COVID policy in December.
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