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HSBC CEO Quinn reported a significant increase in wealth flow from mainland China to Hong Kong this year, estimating it to be 3-4 times higher. Chinese businesses are also intensifying offshore diversification. Meanwhile, hedge funds have been net sellers of Chinese equities and US Financials stocks, as reported by Goldman Sachs.
"Hedge funds sold US Financials stocks at the fastest pace in 7 weeks, driven by short sales. The sector long/short ratio ended the week at the lowest level on our record." - GS Prime https://t.co/gi41Won8Bm
Hedge fund "positioning is still very low in Chinese equities(net sold in 13 of the last 14 weeks on the PB book)." - Goldman Sachs https://t.co/JvBQ6PHCjV
From me today ... HSBC CEO Quinn says Chinese businesses stepping up offshore diversification https://t.co/vo2R1TyROb
⚠️ HSBC CEO QUINN SAYS CHINESE BUSINESSES STEPPING UP OFFSHORE DIVERSIFICATION Full Story → https://t.co/3h2mCMtJZa https://t.co/GTowXrQB4R
HSBC CEO says wealth flow from mainland China to Hong Kong up 3-4 times this year https://t.co/srPsvKQui5 https://t.co/uAtvWFplax