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UBS: Hedge Funds Now Collecting Shrs of HK-listed CN Firms, Focusing on Techs & Consumer Discretionaries
Recommend 6 Positive 8 Negative 9 |
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According to Reuters, UBS released a report tracking hedge fund flows, pointing out that the trend of the Hong Kong stock market changed in the final trading days of April. Unlike the existing pattern since February when inflows came mainly from covering short positions, long-short hedge funds have continued to collect Hong Kong-listed Chinese stocks, with most of the purchases focusing on technology and consumer discretionary stocks. BofA Securities also commented in a report that some large global long-only funds appear to be increasing their positions in Chinese stocks by buying Hong Kong stocks, suggesting that investors may be looking to diversify their Chinese portfolios unobtrusively by buying both Hong Kong and Mainland-listed stocks in light of the recent volatility in US and Japanese equities. While Japan's Nikkei and America's S&P 500 both dipped more than 4% last month, Hong Kong's HSI hiked 7% during the same timeframe, logging the biggest one-month gain since January 2023 and outperforming most other markets. UBS has previously upgraded China and Hong Kong stocks to Overweight. AAStocks Financial News |
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