Michael Burry Boosts Bets on China Big Tech as Stocks Rebound

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Michael Burry,Chinese Stock Market,Alibaba

(Bloomberg) -- Michael Burry’s investment firm doubled down on its bets on JD.com Inc and Alibaba Group Holding Ltd. in the first quarter as Chinese equities...

-- Michael Burry’s investment firm doubled down on its bets on JD.com Inc and Alibaba Group Holding Ltd. in the first quarter as Chinese equities bottomed out.China Considers Government Buying of Unsold Homes to Save Property MarketJD.com was Scion Asset Management’s top holding after the firm boosted its stake in the e-commerce operator by 80% during the period, according to the most recent 13F filing.

Global investors have been making a cautious return to the Chinese stock market as cheap valuations and Beijing’s policy support allowed a number of equity benchmarks to roar into bull markets. A sustainable growth in earnings is seen as crucial for the rebound to continue. Tencent Holdings Ltd. beat earnings estimates while Alibaba reported weaker-than-expected profitability.

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