Asia Pacific

Beijing crackdown spurs $2.6 bln Chinese equity outflow this week-IIF

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LONDON, July 27 (Reuters) - China's equity markets suffered outflows of $600 million on Tuesday after bleeding $2 billion on Monday, the Institute of International Finance (IIF) said.

"These are very weak figures compared to the first half of 2021, when monthly inflows averaged $5.8 billion," said Jonathan Fortun Vargas, economist at the IIF. "This is likely due to Beijing's regulatory actions in the past week."

Hong Kong's benchmark index and Chinese A-shares had extended sharp losses to end at multi-month closing lows on Tuesday, as investors worried over the impact of tighter government regulations following a crackdown by Beijing on the tech and education sectors.

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Reporting by Karin Strohecker, editing by Sujata Rao

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