Hedge funds are piling into Chinese stocks like never before as sweeping stimulus sparks enthusiasm

Beijing's rare stimulus blitz unleashed newfound optimism from hedge fund investors, who have been piling into beaten-down Chinese stocks like never before. Chinese equities saw the largest net buying ever from hedge funds last week, marking the most powerful weekly purchase on record, according to Goldman Sachs prime brokerage data.

mountain KraneShares CSI China Internet ETF Beijing's big stimulus also prompted BlackRock, the world's largest asset manager, to upgrade Chinese stocks to overweight — with a caveat. "Major fiscal stimulus may be coming and prompt investors to step in, given Chinese stocks are at a deep discount to developed markets shares," BlackRock strategists said in a note. "Yet we stay ready to pivot. We are cautious long term given China's structural challenges.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Hedge funds fuel record weekly buying in Chinese stocks on stimulus cheerHedge funds fuel record weekly buying in Chinese stocks on stimulus cheer
Source: Investingcom - 🏆 450. / 53 Read more »

Goldman Sachs to post $400 million hit to third-quarter results as it unwinds consumer businessIn late 2022, Goldman Sachs began to pivot away from its consumer operations, beginning a series of writedowns related to selling chunks of the business.
Source: NBCNewYork - 🏆 270. / 63 Read more »