Most recent 13F filing with the Securities and Exchange Commission (SEC) on Saturday, 13 Chinese companies listed in the US, including online brokerage firm Futu Holdings, delivery platform Dada Nexus affiliated with JD.com, and online forum Zhihu, had financial results for the three months ending June 30.
Chinese companies listed in the US (Photo: CNBC)
Chinese companies listed in the US
The largest hedge fund in the world, Bridgewater Associates, sold over a third of its holdings in Chinese companies listed in the US during the most recent quarter as weak markets and rising geopolitical tensions undermined investor confidence.
According to its most recent 13F filing with the Securities and Exchange Commission (SEC) on Saturday, the Westport, Connecticut-based company sold its stakes in 13 Chinese companies listed in the US, including online brokerage firm Futu Holdings, delivery platform Dada Nexus that is affiliated with JD.com, and online forum Zhihu.
The biggest increase in Chinese companies listed in the US in six months, fuelled by the Politburo’s pro-market rhetoric, showed that Beijing’s senior leadership has, at long last, shifted course to advance the “common prosperity” goal. Therefore, there may be an excessively negative perception of China.
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Chinese Companies Listed in the Us: Economist’s Point of View
This viewpoint is held by Andy Rothman, an investment strategist with Matthews International Capital Management, a US money manager in charge of $12,3 billion in global assets.
“What I got wrong was that it has taken more than a couple of quarters for [President Xi Jinping] to acknowledge the disastrous execution of his ‘common prosperity’ campaign and to course correct,” Rothman said in a response that was published on the business website. “We learned about that in July,” based on Chinese companies listed in the US.
According to economists, the triple combination of a worsening real estate crisis, increased geopolitical headwinds, and a gloomy economic outlook may prevent Chinese companies listed in the US from recovering anytime soon. Money managers find it difficult to identify any advantages, and Beijing’s policy toolkit may be limited. The misery last week spread to every sector of the market as property behemoth Country Garden’s bankruptcy and subsequent liquidity issues heightened investor jitters following Vice President Biden’s executive order barring US investment in China and gloomy economic data.
