Hong Kong ETF shows global traders dislike city's stocks

Hong Kong

WHETHER Hong Kong stocks rally or slump, investors in the biggest US exchange-traded fund tracking the equities just want out.

Traders have pulled a net US$142 million from the iShares MSCI Hong Kong ETF in May, which are poised for an 11th straight month of net outflows and the longest string of declines on record. While the underlying stock index has fallen 2.6 per cent this month, investors were net sellers even in March, when the gauge staged its biggest rally in four years.