Trade War Dents Chinese Company Profits, Portfolio Inflows

Trade War Dents Chinese Company Profits, Portfolio Inflows
Containers are seen at the Yangshan Deep Water Port in Shanghai, China on Aug. 6, 2019. Aly Song/Reuters
Reuters
Updated:

SHANGHAI—A substantial fall in industrial profits and in tepid overseas investment inflows into China’s stock markets show fallout from the protracted trade war with the United States.

Foreign portfolio inflows into stocks in the world’s second largest economy have slowed dramatically. Stocks exposed to overseas markets and a weaker yuan have seen sustained selling while companies in the consumer and technology sectors have seen share prices rise as Beijing boosts domestic consumption and seeks technological independence.