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Global hedge funds continued dumping Chinese stocks in November

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Hedge funds continued to cut their holdings of China and broader emerging Asia market stocks in November, with both featuring among the most net sold regions over the course of the month, according to a report by Reuters.

The report cites Goldman Sachs’ prime brokerage division as highlighting that Chinese equities saw net outflows from long/short fund managers for a fourth successive month – without revealing the figure – mainly due to reduction in long bets, as fund managers further reduced their exposure to the world’s second-largest economy.

November was the ninth month of net outflows so far this year, according to Goldman Sachs, making emerging Asia the region with the largest net outflows across the world in 2023.

While major global indexes saw a broad rally on the back of optimism over a potential US interest rate cut, China’s CSI 300 Index (.CSI300) declined 2% while Hong Kong’s Hang Seng Index (.HSI) fell 0.4% in November, extend declines to a fourth successive month.

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