Is Cathie Wood Giving Up on Chinese Stocks?

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Is Cathie Wood Giving Up on Chinese Stocks?

InvestorPlace2023-07-23

Cathie Wood of Ark Invest fame just revealed a bold move regarding Chinese stocks.The notable investor’s Ark Innovation ETF (ARKK) just exited stocks generating revenue from China.Wood is particularly...

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Toby_Chua
·2023-07-23
Contrarian to her move make more money 🤑💰
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BernardLL
·2023-07-23
Do the opposite of what she's doing and u make money
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FGP
·2023-07-23
Exiting will help the investors, thank you
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Adrian NCY
·2023-07-23
Great ariticle, would you like to share it?
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Adrian NCY
·2023-07-23
Great ariticle, would you like to share it?
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Adrian NCY
·2023-07-23
Great ariticle, would you like to share it?
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Adrian NCY
·2023-07-23
Great ariticle, would you like to share it?
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Fundamentally, while recognizing positives in the world’s second-largest economy, worries remain about some of its vulnerabilities — particularly China’s real estate market.At first, Cathie Wood praised China’s impressive restraint regarding Covid-19. While other nations implemented various fiscal and monetary policy initiatives to address the crisis, the Chinese government resisted the temptation of “throwing money at the problem.” Instead, according to Wood, Chinese policymakers were “very disciplined” in their response.Nevertheless, Wood’s good feelings toward Chinese stocks faded when “Beijing started to tighten its grip on the economy by cracking down on the ultrawealthy and the tech sector.” Most of all, she expressed significant discomfort about China’s real estate market “as the country incurred massive amounts of debt after over a decade of swift expansion.”“It was responsible for roughly 15 years of double-digit real GDP growth … and growth like that can cover a lot of sins,” Cathie Wood said. She also stressed that China is facing a “day of reckoning” when it comes to its debt load.Cathie Wood Takes a Hard Stance on Chinese StocksAs CNBC points out, the Ark Innovation exchange-traded fund used to own shares of Tencent (OTCMKTS: TCEHY) and KE Holdings (NYSE: BEKE). According to Cathie Wood, her exposure to China and other emerging markets hit about 25% in 2020.Back then, Wood was encouraged by the country’s discretion, as mentioned earlier. However, policy shifts and economic realities are now forcing a pivot. Wood stated yesterday in a prerecorded investor webinar:“As we always do during bear markets, we concentrated our strategies towards our highest conviction names and the Chinese names, in particular, came out one by one as we were concentrating so that now, at least in the flagship strategy, we do have no exposure to China.”Still, it’s important to realize that Cathie Wood isn’t entirely out of Chinese stocks. According to CNBC, Ark Fintech Innovation ETF (NYSEARCA:ARKF) still owns a small stake in JD.com (NASDAQ:JD). However, ARKF has also “dumped other Chinese names” like PDD (NASDAQ:PDD) and Tencent.Despite the cautionary outlook for Chinese stocks, Cathie Wood is no permabear, either. Should China overcome its challenging growth recovery journey, she may add back shares.Why It MattersFor what it’s worth, Wood’s flagship fund is no worse for wear. Since the beginning of this year, ARKK has gained more than 55%. Interestingly, ARKF has swung even higher year-to-date (YTD), up more than 60%.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[{"id":200912977948712,"gmtCreate":1690081786852,"gmtModify":1690081791112,"author":{"id":"3576326749731922","authorId":"3576326749731922","name":"Toby_Chua","avatar":"https://community-static.tradeup.com/news/82ec063fd73ccbceee82eab015cdf3fd","vip":1,"hat":"https://static.tigerbbs.com/b073a07f77dbe6b3bec6b12311fde6bd","crmLevel":6,"crmLevelSwitch":1},"htmlText":"Contrarian to her move make more money 🤑💰","listText":"Contrarian to her move make more money 🤑💰","text":"Contrarian to her move make more money 🤑💰","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/200912977948712","repostId":1138803532,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":200904706220048,"gmtCreate":1690079765312,"gmtModify":1690079769194,"author":{"id":"3567412323589940","authorId":"3567412323589940","name":"BernardLL","avatar":"https://community-static.tradeup.com/news/3eb1ecb8182a3c31f7f8d7a53d00163b","vip":1,"hat":"https://static.tigerbbs.com/0a8758340a08196056f8bc1e54805193","crmLevel":5,"crmLevelSwitch":1},"htmlText":"Do the opposite of what she's doing and u make money","listText":"Do the opposite of what she's doing and u make money","text":"Do the opposite of what she's doing and u make 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it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/200903404249104","repostId":1138803532,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":44,"commentSize":0,"repostSize":5,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}