International financial institutions have been buying up Chinese assets amid growing global interest in the country's stock markets following the announcement of a series of stimulus policies.
According to data released by the Hong Kong Exchanges and Clearing Limited (HKEX) on Friday, J.P. Morgan Chase purchased several Hong Kong stocks on September 27th, increasing its position by about 530 million U.S. dollars in a single day to expand its holdings in Chinese assets.
Firms like Switzerland's UBS and the U.S.-based BlackRock have also recently increased their investment ratings for China's A-shares.
"Statistics show that during the last three trading days of September, funds flowing into Chinese stock exchange-traded funds (ETFs) products reached 2.4 billion U.S. dollars, a figure almost matching the total inflows into similar products over the previous nine months," said Peter Pak, executive director of BOCI Securities Limited, a Hong Kong-based investment firm.
The optimism comes after China's financial authorities announced a broader-than-expected policy package to galvanize the economy's rebound in late September.
A representative from Morgan Stanley said the firm saw a wave of interest in Chinese assets during the week-long National Day holiday that began Oct 1. "During the 'Golden Week' National Day holiday, which is the busiest week in my 20-year career in international financial institutions, I have interacted with over 3,500 overseas international investors through visits and phone calls. Their confidence in the Chinese economy is gradually recovering," said Xing Ziqiang, chief economist with Morgan Stanley China.
Global financial institutions increase investments in Chinese assets
Rallies have been held in Germany's capital Berlin on Sunday ahead of the one-year anniversary of Israel-Gaza conflict as pro-Palestinian and pro-Israeli demonstrations and memorial events are taking place across Europe.
Many protesters are calling for a ceasefire in Gaza after almost a year of conflict between Hamas and Israel. In Berlin's Neukoelln district, hundreds are gathering in support of Palestine and against what they are calling a genocide in Gaza.
"We demand an immediate stop of all arms and weapons being delivered to Israel and the continuous impunity Israel receives from Germany and other nations in this world," said Salah Said, a Palestinian German in the rally.
"We do not allow them to deny the rights of Palestinians to stand on the streets and express their rage against this injustice," said Mary Gillian, a Berlin resident.
Security officials in several countries are at a higher stage of alert over possible terror attacks or violent protests. Following the events in Israel on October 7 of last year, a near total ban was placed on pro-Palestinian rallies in Germany. The Neukoelln one has been allowed to go ahead with substantial police presence, but its location has been limited.
Meanwhile at Berlin's iconic Brandenburg Gate, hundreds are gathering in support of Israel. German President Frank-Walter Steinmeier is expected to take part in vigils against anti-Semitism at the Jewish cultural center on Monday evening.
Protests are also taking place across Europe. In the Spanish capitol Madrid, hundreds have staged a flash mob in a call to end military operations in the Gaza Strip and the Israeli-occupied West Bank. In Paris, French Jews have gathered to commemorate the one year anniversary of the Hamas attacks in Israel. The United Kingdom also held memorial events for all the lives lost during the conflict escalations across the Middle East.
Rallies held in Europe ahead of one-year anniversary of Israel-Hamas conflict
