(Bloomberg) -- Activity in a Chinese exchange traded fund tracking technology index rose to the highest in five months, signaling a state-owned institution ramped up purchases into the ETF as part of the government’s efforts to boost markets.
Turnover in the China Southern CSI Guoxin Central-SOEs Technology Lead ETF rose to 320 million yuan ($44.8 million) on Monday. That’s more than six times its daily average and the second highest since its inception in mid-2023.
The move follows a similar spike Friday when China Reform Holdings Corp. said one of its units had bought an unspecified amount of ETF tracking the index and planned to increase its holding in the future.
While state-owned companies, including Shanghai Baosight Software Co., gained the broader CSI 300 Index closed at a fresh low for this year.
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