Global hedge funds chase Hong Kong stocks rally, UBS says

Subject of emergency alert message arrested - May 2, 2024 | SaltWire #dartmouth #update #suspectHONG KONG - Global hedge funds that use an equities long-short strategy are growing increasingly bullish on China, evidenced by the heavy pick-up in their purchases of Hong Kong-listed shares, UBS Group said in a note.

Most of the buying was focused on the technology and consumer discretionary sectors, UBS said, without disclosing the amount of flows.Many funds entered 2024 bearish on China while being overweight stocks in Japan and the United States. Beijing is also showing signs of resolving a property crisis through policy easing and clearing housing inventory.

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Goldman Says Funds Likely Selling Japan Stocks to Buy Hong KongGlobal money managers may be starting to unwind their hugely popular long Japan, short Hong Kong equity trades due to the widening gap between valuations in the two markets, Goldman Sachs Group Inc. says.
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