Net selling of Chinese equities by international active funds totalled around $30 billion over the past year

Rumours and news reports have raised hopes for the easing of China's tough Covid curbs and improved relations with the United States

The Hang Seng index fell 3.1% by the close of trading, while on the mainland, the bluechip CSI300 index was down 0.8%

Some 14 auditors have severed ties with Chinese property firms listed in Hong Kong this year, which has raised concern about debt-ridden developers that have failed to publish financial results

Goldman Sachs estimates that $100 billion to $200 billion of foreign holdings could be at risk if global funds significantly cut their allocations of Chinese equities

China stocks sank again on Friday, with CSI 300 Index falling 2.5% and the Hang Seng plunging 3.7% to hit new lows since 2008; most other Asian markets edged down

Asian markets were mixed on Thursday with Chinese and Japanese stocks slipping ahead of an update on the US economy and an ECB rate hike decision

Shares in Japan closed at their highest level in nearly seven weeks, while world stocks also hit a five-week high and most Asian currencies also eked out gains after a decline in the dollar index

Securities regulators recently asked fund managers to prevent an excessive proportion of institutional investors in money market funds. At least 20% must be invested in liquid assets.

Hong Kong stock index falls over 6% to levels last seen in the 2008 crisis, with shares of Alibaba and Tencent down 10% and 8% on fears economic growth will be sacrificed for ideological policies

The territory's Mandatory Provision Fund lost $32.98 billion, equating to $7,197.63 per person, the South China Morning Post reported

Shares of the lithium battery maker slipped slightly after it listed on the Hong Kong Exchange on Thursday, but the company raised $1.28 billion from its IPO.