From Nasdaq:

Global long-only funds sold off China equities at the fastest pace of 2023 in December, with a combined net outflow of $3.8 billion. Chinese and Hong Kong stocks ended the year as the worst performers, dropping 11% and 14% respectively. European fund managers are catching up to their U.S. peers in aligning their underweight on China. (Reuters)

Investors’ redemptions from equity funds and portfolio managers’ rebalancing contributed to the outflows. Beijing has rolled out measures to boost the economy, but market confidence remains low. Tencent Holdings, Alibaba Group, and Kweichow Moutai topped the weight additions list, while JD.com, Yum China Holdings, and AIA were the most sold. (Reuters)

Of the $3.8 billion outflow in December, $2 billion was attributable to investor redemptions from funds. Meanwhile, long-short equity funds seemed to see more value in Chinese stocks in December, with hedge funds actively buying the dips. (Reuters)



Read more: Foreign funds accelerated China equity sell-off in December -Morgan Stanley