New losses for Bridgewater on China bets

By Matea Gucec

According to a report by The South China Morning Post, Bridgewater Associates recorded additional losses on its investments in Chinese stocks in the third quarter of the year as Beijing's continued zero-Covid policy and monetary tightening policy in developed markets caused the biggest sell-off since 2015.

The world's largest hedge fund recorded an 11% fall in the value of its stock investments in 44 US-listed Chinese companies during the September quarter on Thursday, according to Bridgwater's most recent 13F regulatory filing, according to the article. In the three months prior, the value of its portfolio fell by 37%.

However, the fund, which was established by the seasoned proponent of China Ray Dalio, bought fresh interests in Yum China and Futu Holdings during the quarter with a total investment of $81.9 million.

The Nasdaq Golden Dragon China Index, which covers 65 Chinese companies, sank 22% in the three months ending September 30, while the MSCI China Index of 715 equities listed domestically and internationally lost 23%. These drops erased $1 trillion and US$237 billion in market value, respectively.

Share

Similar Articles:

30 Nov

By Matea Gucec

As traders wait for Powell, stocks rise while the dollar falls

US equity futures edged higher and the dollar slipped for a second day, as investors awaited a speech by Federal Reserve Chair Jerome Powell for signals about the path of interest-...

FIND OUT MORE

28 Nov

By Matea Gucec

A large hedge fund is concerned about the effect of "hyperinflation" in America

The effects of potential hyperinflation in emerging nations could pose a new challenge to the US economy as it fights against numerous pressures in the face of an impending recessi...

FIND OUT MORE

22 Nov

By Matea Gucec

The embattled cryptocurrency exchange FTX owes more than $3 billion in debt to its creditors

The largest unsecured creditor is owing more than $226 million, according to a list of FTX's top 50 unsecured creditors that does not include their names or other personally identi...

FIND OUT MORE