Chinese reopening rally stalls as foreign investors cut purchases

HONG KONG — Foreign investors are scaling back their purchases of Chinese stocks as hopes for a reopening rally in the world’s second-biggest economy give way to concerns about falling cargo shipments and lackluster sales of homes and cars.

After jumping 18.47% in the three months ending in January, the widely followed CSI 300 equities index has slipped 2.94% in February to 4034.51, with foreign purchases of Chinese stocks via the trading link between Hong Kong and the mainland slowing significantly.