“China Market Turmoil Amps Up Pressure for Policymakers to Act”
August 14, 2023
“Renewed concerns about the property sector, missed payments by one of the nation’s largest private wealth managers, unprecedented losses at China-focused hedge funds and the threat of deflation have all combined to deal a blow to investor sentiment. A gauge of Chinese stocks listed in Hong Kong slumped again on Monday and is now the worst performer this month among 92 global equity measures tracked by Bloomberg. The offshore yuan fell toward its weakest level this year…
As foreign investors lose interest in China, hedge funds that target the world’s second-biggest economy are paying the price. The number of active China-focused hedge funds has slipped for the first time since at least 2012, with only five new funds launched this year as of June, according to data from Preqin Ltd. Another 18 funds were liquidated, the data show…”
https://finance.yahoo.com/news/china-stocks-set-erase-politburo-224354197.html