Star 50 ETF sees record CNY 14 billion in inflows, index rises 11%

iconChainthink
Share
AI summary iconSummary
The fear and greed index for Chinese equities turned bullish as the Star 50 ETF recorded record inflows of 14 billion CNY on July 23, according to Bloomberg. The China STAR 50 Index surged 11% the following day, marking its best single-day gain in nearly two years. The index had declined 17% the prior week due to leveraged liquidations. At least five major Chinese insurers, including China Life, have committed to increasing equity investments, with over $1.5 billion already deployed.

ChainThink reports that, according to Bloomberg data, the Star 50 ETF, which tracks the China Science and Technology 50 Index, recorded a net inflow of approximately $2 billion, equivalent to about RMB 14 billion, on Monday—the highest on record and the largest single-day inflow since December 2020.

After capital inflows, the Star 50 index rose 11% on Tuesday, marking its largest single-day gain in nearly two years. The previous week, the index had fallen 17% due to leveraged position liquidations. During the same period, at least five major Chinese insurance companies have pledged to increase their equity investments.

Among them, China Life purchased over $1.5 billion in stocks and funds.

Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information. Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.