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REUTERS/Tingshu Wang A worker looks on at a construction site of residential buildings by Chinese developer Country Garden, in Beijing, China August 11, 2023.
Reuters
11:59 JST, August 16, 2023
NEW YORK (Reuters) – Global hedge funds are “aggressively” selling Chinese stocks amid heightened concerns over the country’s property sector and a weak batch of economic data, a Goldman Sachs report on Tuesday showed.
All types of stocks were sold, but A-shares, those listed in the domestic stock market, led the sell-off, comprising 60% of it, the bank said.
“Hedge funds have net sold Chinese stocks in eight of the last ten sessions on the prime book through 8/14,” it said, adding its clients divested both their long and short positions.
