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US hedge funds dumped shares in Chinese companies in Q2

August 15, 2023
Source: reuters.com reuters.com
News Snapshot:
A screen displays trading information over the floor of the New York Stock Exchange (NYSE) in New York, U.S., March 18, 2020. REUTERS/Lucas Jackson NEW YORK, Aug 14 (Reuters) - U.S.-based hedge fund investors such as Coatue, D1 Capital and Scion cut their exposure to Chinese companies in the second quarter, as doubts grew over whether the country's long-awaited reopening would boost its economic growth, and geopolitical tension increased. Coatue Management LLC, founded by Philippe Laffont, formerly of Tiger Management, cut its positions in Alibaba (9988.HK), Baidu (9888.HK), JD.com (9618.HK), Kanzhun (2076.HK), KE Holdings (2423.HK), Li Auto (2015.HK) and PDD...
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