Hedge funds have cut most Chinese stock purchase since late September, says Goldman

Quick Summary:

HONG KONG: Global hedge funds dumped China and broader emerging markets shares while buying US equities in a sharp rotation in October ahead of the US election, Goldman Sachs said.

The retreat comes as China's markets, too, have pulled back from peaks as investors have been disappointed with the lack of details around Beijing's stimulus promises and as the possibility of a Donald Trump presidency raises tariff risks.

Hedge funds instead rotated back to US equities for the first time in six months as solid job data and corporate earnings offset recession fears, the bank said.

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Article Details

Category: EconomyBusiness

Markets: SingaporeChinaHong KongIndiaSouth KoreaTaiwan

Topics: Sachs Cent Stock Month October Funds Goldman Markets China Hedge Equities

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-25 @ 12:55:05 (3 days ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 441 words

Reading Time: 3 minutes read

Sentences: 16 lines

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Copyright Owner: © Channel News Asia

News ID: 23234647

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