NEW YORK -Globalhedgefundsare “aggressively” sellingChinesestocksamid heightened concerns over the country’s property sector and a weak batch of economic data, a Goldman Sachs report on Tuesday showed.
All types ofstockswere sold, but A-shares, those listed in the domestic stock market, led the sell-off, comprising 60 percent of it, the bank said.
“Hedgefundshave net soldChinesestocksin eight of the last 10 sessions on the prime book through 8/14,” it said, adding its clients divested both their long and short positions.
This is the largest net selling inChineseequities over any 10-day period since Oct 2022 and one the highest moves in the past five years.
Goldman Sachs, …
Keep on reading: Hedge funds dump Chinese stocks aggressively as growth outlook dims