Huo Xing Finance reports that on July 23, according to Bloomberg data, Chinese investors actively bought the dip on Monday, with the Star 50 ETF, which tracks the China Science and Technology Innovation 50 Index, recording a record $2 billion in inflows—the highest single-day level since December 2020. The influx of capital propelled the Star 50 Index to surge 11% on Tuesday, marking its largest single-day gain in nearly two years, following a 17% plunge the previous week due to leveraged position liquidations. Meanwhile, at least five of China’s largest insurance companies have pledged to increase their equity investments, with China Life alone purchasing over $1.5 billion in stocks and funds.
China STAR 50 ETF sees record $20 billion in inflows on July 22
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Summary
China STAR 50 ETF inflows reached a record $20 billion on July 22, the highest single-day amount since December 2020, according to Bloomberg data. On-chain data shows the surge lifted the STAR 50 index by 11% on July 23, its largest one-day gain in nearly two years. The index had declined 17% the prior week due to leveraged liquidations. China Life Insurance and four other major insurers added over $1.5 billion in stock and fund purchases.
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