Latest news with #technology stocks
Bloomberg
7 hours ago
- Business
- Bloomberg
Funds With $617 Billion Turn Less Bearish on China, Survey Shows
Money managers are scaling back their bearish stance on China, adding technology and consumer stocks to their portfolios amid a four-month-long rally, according to an HSBC Holdings Plc survey. Mainland China currently accounts for almost 28% of portfolios across nearly 300 actively-managed emerging-market funds overseeing a combined $617 billion, the survey shows. That's up from 22.5% a year earlier, though the group as a whole remains 340 basis points underweight.
South China Morning Post
4 days ago
- Business
- South China Morning Post
Temasek fine tunes Chinese stock portfolio as PIF exits Alibaba in sovereign fund tweaks
Two of the world's largest sovereign wealth funds have adjusted their stakes in Chinese equities, trimming their exposure to technology stocks while going long on consumer companies as they mirrored Bridgewater Associates in reacting to volatile markets and rising US-China tensions. Singapore's Temasek Holdings cut its stake in Alibaba Group Holding by two-thirds to 1.85 million shares in the quarter that ended in June, according to its 13F disclosure on Thursday. It slashed its holdings by 87 per cent to 589,256 shares, cut NetEase by 38 per cent to 1.45 million shares and pared H World Group by 8 per cent to 6.24 million shares. Temasek went long on PDD Holdings , increasing its stake in the Pinduoduo discount e-commerce platform by 28 per cent. It raised its investments in Yum China , which operates the KFC and Pizza Hut franchises in the country, by 30 per cent. It invested in some companies for the first time, buying 1.23 million shares of the real estate brokerage KE Holdings and 1.19 million shares of the electric vehicle maker Xpeng The tweaks shrank the value of Temasek's portfolio of 12 US-traded Chinese stocks by more than a third, or US$699.3 million, to US$1.32 billion at the end of June, based on the Post's calculations. The value of the Singapore sovereign fund's equity portfolio of 131 stocks grew 4.4 per cent to US$26 billion in June, from the previous quarter. booth at AWE2024 in Shanghai on March 14, 2024. Temasek was not alone in selling the shares of Alibaba, which owns this newspaper. Saudi Arabia's Public Investment Fund (PIF) sold all 1.61 million Alibaba shares that it owns in one of China's largest technology companies at the end of June for US$212 million, according to its 13F disclosure.
