China's retail investors abandoning volatile stocks for safe-haven assets

Weekly data from the Shanghai Stock Exchange show the bourse’s largely individual investors shifting funds out of volatile equities and into exchange-traded funds that track bonds as well a gold and money markets, Reuters reported. The latest data from the Asset Management Association of China show that bond and money market funds nearly doubled in size between the end of June and the end of 2015 as equity funds plummeted 90% in terms of assets under management during the period. On Thursday the state-run Securities Times reported 10 mutual funds qualified to invest in stocks and bonds abroad had suspended or restricted new subscriptions after demand led to quota shortages.