Photo taken on Dec. 5, 2016 shows the interior of Shenzhen Stock Exchange after the launching of the Shenzhen-Hong Kong Stock Connect in Shenzhen, south China's Guangdong Province.
Northbound investors, referring to investors entering China's A-share market through the Chinese mainland-Hong Kong Stock Connect programs, contributed an all-time high 141.3 billion yuan of net monthly capital inflows into A-share market in January, reported Securities Times on Friday.
Their hefty January net purchases, also marking the first month of over 100 billion yuan capital inflows into A-share market since 2014 when Stock Connect was launched, resulted from their optimism towards China's economy and Renminbi-denominated assets.
Since the end of 2022, multiple leading foreign financial institutions generally raised their forecasts for China's gross domestic product (GDP) in 2023 and the upward adjustment of Renminbi-denominated assets.
What's more, overseas institutional investors posted more and more optimistic prospects in their recent surveys and research reports about A-share market apart from their material buying.
By February 1, overseas institutions conducted as many as 424 times of surveys over A-share market listed companies this year, showed statistics with Wind, a financial data provider in China.