{"id":2002359,"date":"2023-08-16T11:39:08","date_gmt":"2023-08-16T15:39:08","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/hedge-funds-dumped-chinese-stocks-in-august-says-goldman\/"},"modified":"2023-08-16T11:40:08","modified_gmt":"2023-08-16T15:40:08","slug":"hedge-funds-dumped-chinese-stocks-in-august-says-goldman","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/hedge-funds-dumped-chinese-stocks-in-august-says-goldman\/","title":{"rendered":"Goldman reports hedge funds sold Chinese stocks in August."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fhedge-funds-dumped-chinese-stocks-in-august-says-goldman%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2002359&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"entry-content\">\n<h2>Global Hedge\u2063 Funds Aggressively Sell Chinese Stocks\u200b Amid Economic Concerns<\/h2>\n<blockquote>\n<p>By Carolina Mandl<\/p>\n<\/blockquote>\n<p>NEW YORK \u2064(Reuters) \u2013 Global hedge \u200bfunds have been &#8220;aggressively&#8221; selling\u200d Chinese stocks due to heightened concerns over the country&#8217;s property sector and \u2064a weak batch of economic data, \u200caccording to a report by\u200c Goldman Sachs \u200don Tuesday.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: 320px; min-height: 50px;  text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<p>All \u200ctypes of stocks were sold in early August, but A-shares, those listed in the domestic \u200bstock market, led the sell-off, comprising 60% of it, the\u200d bank\u2064 said.<\/p>\n<p>\u201cHedge funds have net\u2064 sold Chinese stocks \u200bin eight of the last\u2064 10 sessions on\u2063 the prime \u200dbook through 8\/14,\u201d it said, adding its clients \u2063divested both their long and short positions.<\/p>\n<p>This is the largest net selling in Chinese equities over any 10-day period since Oct 2022 and one of the steepest moves in the past five years.<\/p>\n<p>Hedge funds sold 70% of what they bought in \u2062the \u200bfirst 5 days post the July 24 \u2062Politburo meeting on stimulus hopes, Goldman Sachs estimates. <\/p>\n<p>New York listed \u2013 KraneShares CSI China \u2063Internet ETF, which offers exposure to China&#8217;s\u200d largest internet companies\u200b such as Tencent and Alibaba,\u200c slumped 12% in August, the\u200b biggest monthly\u2064 decline since February.  <\/p>\n<p>Goldman\u2062 Sachs, as one of the biggest providers\u200d of lending and trading services through its \u200bprime brokerage unit to investors, is\u200d able to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/hedge-funds-dumped-chinese-stocks-in-august-says-goldman\/\" title=\"Goldman reports hedge funds sold Chinese stocks in August.\">track \u200chedge funds&#8217; investment trends<\/a>.<\/p>\n<p>Global investors have raised concern about China&#8217;s \u2064economy as a \u2062confluence of recent events has darkened its economic outlook, and the policy response is viewed\u2062 as insufficient.\u200b <\/p>\n<p>On Tuesday, a broad array of Chinese economic data highlighted\u2062 intensifying pressure on \u200bthe economy from multiple fronts, prompting Beijing\u200d to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/dollar-firm-yuan-slides-after-china-unexpectedly-cuts-rates\/\" title=\"China's surprise rate cut causes yuan to decline, while dollar remains strong.\">cut key policy rates<\/a> to shore up activity.<\/p>\n<p>Chinese property giant \u2063Country Garden is seeking to delay payment on a private onshore bond and a\u200b major\u2062 Chinese trust company that traditionally had sizable\u200c exposure to real estate, Zhongrong International Trust Co, has missed some repayment \u200dobligations.<\/p>\n<p>Hedge funds are increasingly wary of their exposure\u2064 to China. \u200cA raft of U.S.-based\u200d hedge funds, including Coatue, D1 Capital and Tiger Global, cut their positions in Chinese stocks in the second quarter, as the country&#8217;s \u2062economic prospects already seemed to wobble\u2064 and geopolitical tension increased, securities filings showed on Monday.    <\/p>\n<p>U.S. President Joe Biden&#8217;s \u200dexecutive order to prohibit some \u200cU.S. technology investments in \u200cChina also caused some investors to further reduce their exposure to the world&#8217;s second largest economy. <\/p>\n<p>A \u2063UBS report on Monday showed China&#8217;s semiconductor \u200csector has\u200d been sold significantly by hedge funds in the past\u2062 two weeks.<\/p>\n<\/p>\n<p>  (Reporting\u200b by Carolina Mandl in New York; Additional reporting \u2063by Summer Zhen in Hong Kong; Editing by Sonali \u200dPaul and Muralikumar Anantharaman)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/business\/hedge-funds-dump-chinese\/attachment\/construction-site-of-residential-buildings-by-chinese-developer-country-garden\/\"><\/a><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>President Biden\u2064 Comments on Maui Disaster<\/h3>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Criticism Mounts on President Biden&#8217;s\u2064 Handling of Major Issues<\/h3>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Headlines Dominated by Trump Indictment, Maui Wildfires, and Vivek Ramaswamy&#8217;s Performance<\/h3>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Trump Promises Irrefutable Report, Brian Kemp Assures Secure\u200b Georgia \u200bElections<\/h3>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>China&#8217;s Tencent Holdings Reports \u200bSmaller-Than-Expected Rise in Q2 Revenue<\/h3>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Two Pinterest Directors Resign \u200bfrom Nextdoor&#8217;s Board\u2062 of Directors<\/h3>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>PayPal to Stop\u2063 Allowing UK Customers to Buy Cryptocurrencies<\/h3>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Global hedge funds aggressively sold Chinese stocks in early August due to concerns about the country&#8217;s property sector and weak economic data, according to a Goldman Sachs report. All types of stocks, including A-shares listed in the domestic market, were sold off.<\/p>\n","protected":false},"author":66,"featured_media":2002360,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-2002359","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2002359","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2002359"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2002359\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2002360"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2002359"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2002359"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2002359"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}