Investors are hastily withdrawing money from Chinese stocks, disappointed by the recent statistics on the Chinese economy, writes investing.com. The Hang Seng Index has lost almost 20% since January - during the trading session on Wednesday its decline in the moment even exceeded this level, reaching 20.5%, at closing it was reduced to 19.63%. As Bloomberg notes, such dynamics signal that the stock market of the country has entered a bearish phase.

The decline was caused by the fact that global funds are hastily withdrawing their funds from the Chinese stock market. Their pessimism is caused by the tense geopolitical situation, as well as the fact that the Chinese economy does not show the level of growth that was expected by players. China's real estate sector continues to show weakness. Moreover, the PMI business index for the manufacturing sector in May turned out to be lower than the forecasts - it fell by 0,4 percentage points and amounted to 48,8 p. whereas experts expected it to be at the level of 51,4 p.