Hong Kong | Foreign investors ditched a record $US18 billion ($24.2 billion) worth of yuan-denominated debt last month, with selling accelerating as soaring US bond yields dulled the allure of holding Chinese debt.
Offshore investors sold a net 113 billion yuan worth of Chinese onshore bonds in March, according to Financial Times calculations based on data from Hong Kong’s Bond Connect investment programme. That took outflows over the past two months to 193 billion yuan as concerns mounted over China’s economic growth outlook and the debt’s diminishing yield advantage over bonds denominated in US dollars.
