Michael Burry Adds to China Big Tech Wager as Stock Rout Deepens

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Michael Burry Adds to China Big Tech Wager as Stock Rout Deepens

Bloomberg02-15

Alibaba, JD.com are Scion’s top holdings after stakes boostedFirm reopened positions in companies in the third quarter(Bloomberg) -- Michael Burry, the money manager made famous in the Big Short, ...

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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMichael Burry Adds to China Big Tech Wager as Stock Rout Deepens\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-02-15 10:02 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2024-02-15/the-big-short-s-michael-burry-adds-to-china-tech-stock-bet-as-rout-deepens?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Alibaba, JD.com are Scion’s top holdings after stakes boostedFirm reopened positions in companies in the third quarter(Bloomberg) -- Michael Burry, the money manager made famous in the Big Short, ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2024-02-15/the-big-short-s-michael-burry-adds-to-china-tech-stock-bet-as-rout-deepens?srnd=premium-asia\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4585","symbol_name":"ETF&股票定投概念","start_time":0,"source_url":"https://www.bloomberg.com/news/articles/2024-02-15/the-big-short-s-michael-burry-adds-to-china-tech-stock-bet-as-rout-deepens?srnd=premium-asia","article_id":"2411557118","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2411557118","pubTimestamp":1707962539,"sourceInfo":{"source_id":"lsy1584095487587","name":"Bloomberg"},"weMediaInfo":null,"summary":" -- Michael Burry, the money manager made famous in the Big Short, added to wagers on Chinese tech giants Alibaba Group Holding Ltd. and JD.com Inc. in recent months even as a rout in Chinese shares deepened.The Brutal Reality of Plunging Office Values Is Here. Dip Buyers Wade Back In to Fuel Wall Street Gains: Markets Wrap. Israel Pulls Out of Peace Talks Over ‘Delusional’ Hamas Demands. Alibaba is now Scion Asset Management’s top holding after Burry’s investment company boosted its stake in the e-commerce giant by 50% in the period ended Dec. 31, according to the firm’s most recent 13F filing. While the stake was only $5.81 million, it’s a starkly contrarian bet on China’s largest online retailer. Smaller rival JD.com Inc. was Scion’s second biggest holding at $5.79 million after the firm increased its position by 75,000 shares.Read more: Wall Street Is Going to Great Lengths to Avoid Chinese Equities. Read more: China’s $6.3 Trillion Stock Rout Getting Uglier by the Day. Burry’s fir","collect":0,"end_time":0,"defaultTopTitle":"bloomberg.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4585":"ETF&股票定投概念","BK4534":"瑞士信贷持仓","BK4533":"AQR资本管理(全球第二大对冲基金)","LU0918141887.USD":"安联亚洲实际收益股票基金","LU0651946864.USD":"贝莱德新兴市场股票收益A2","BK4575":"芯片概念","BK4558":"双十一","BK4587":"ChatGPT概念","LU1880383366.USD":"东方汇理中国股票基金 A2 (C)","LU1051768304.USD":"贝莱德新兴市场股票收益A6","BK4535":"淡马锡持仓","BK4524":"宅经济概念","LU0348816934.USD":"ALLIANZ TOTAL RETURN ASIAN EQUITY \"AT\" (USD)","BK4220":"综合零售","LU1046422090.SGD":"Fidelity Pacific A-SGD","LU0251143458.SGD":"Fidelity Emerging Markets A-SGD","BK4527":"明星科技股","BK4538":"云计算","BK4579":"人工智能","LU1515016050.SGD":"Blackrock Emerging Markets Equity Income A6 SGD-H","BABA":"阿里巴巴","LU0880133367.SGD":"UBS (LUX) EQUITY FUND CHINA OPPORTUNITY USD \"P\" (SGD) ACC","BK4588":"碎股","BK4526":"热门中概股","LU0501845795.SGD":"瑞银大中华区股票基金P Acc SGD","LU0052756011.USD":"TEMPLETON GLOBAL BALANCED \"A\" (USD) INC","BK4503":"景林资产持仓","IE00B0JY6N72.USD":"PINEBRIDGE GLOBAL EMERGING MARKETS FOCUS EQUITY \"A\" (USD) ACC","BK4122":"互联网与直销零售","BK4502":"阿里概念","BK4505":"高瓴资本持仓","BK4581":"高盛持仓","LU1267930227.SGD":"TEMPLETON GLOBAL BALANCED \"AS\" (SGD) ACC A","BK4504":"桥水持仓","LU0072913022.USD":"UBS (LUX) EQUITY FUND -  GREATER CHINA \"P\" (USD) ACC","LU0128525689.USD":"TEMPLETON GLOBAL BALANCED \"A\"(USD) ACC","LU1105468828.SGD":"Allianz Total Return Asian Equity AM DIS H2-SGD","LU0067412154.USD":"UBS (LUX) EQUITY FUND -  CHINA OPPORTUNITY \"P\" (USD) ACC","BK4548":"巴美列捷福持仓","LU0310800965.SGD":"FTIF - Templeton Global Balanced A Acc SGD","LU1048596156.SGD":"Blackrock Asian Growth Leaders A2 SGD-H","BK4565":"NFT概念","JD":"京东","LU0348814723.USD":"ALLIANZ TOTAL RETURN ASIAN EQUITY \"A\" (USD) INC  NC","LU0821914370.USD":"贝莱德亚洲成长领袖A2","BK4554":"元宇宙及AR概念","LU1688375341.USD":"贝莱德中国灵活股票基金","BK4531":"中概回港概念"},"translate_title":"随着股市暴跌加深，迈克尔·伯里加大对中国科技股的押注","themeId":"e8a161e5210b43e2aeaaa0b0ebd3e0a6","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BABA":0.9,"JD":0.6},"content_text":"Alibaba, JD.com are Scion’s top holdings after stakes boostedFirm reopened positions in companies in the third quarter(Bloomberg) -- Michael Burry, the money manager made famous in the Big Short, added to wagers on Chinese tech giants Alibaba Group Holding Ltd. and JD.com Inc. in recent months even as a rout in Chinese shares deepened.Alibaba is now Scion Asset Management’s top holding after Burry’s investment company boosted its stake in the e-commerce giant by 50% in the period ended Dec. 31, according to the firm’s most recent 13F filing. While the stake was only $5.81 million, it’s a starkly contrarian bet on China’s largest online retailer. Smaller rival JD.com Inc. was Scion’s second biggest holding at $5.79 million after the firm increased its position by 75,000 shares. So far the wagers are struggling to pan out. Alibaba is down 5% year-to-date and JD.com has tumbled almost 20% as global money managers unwind positions in Chinese stocks amid an ongoing property crisis and slowing growth. It’s not the first time Burry, who rose to fame predicting the 2008 US housing crash, has bet on the companies.At the end of 2022 he snapped up shares of New York-listed Alibaba and JD.com as China was emerging from the pandemic. He ended up closing out his positions in the second quarter of 2023, only to reopen it months later.As of Tuesday, some $6.5 trillion of market value had been wiped out of Chinese and Hong Kong stocks from a 2021 peak, underscoring the challenge that Beijing faces as it seeks to arrest a decline in investor confidence. Foreign investors have been relentlessly selling China’s onshore equities in the new year. Global funds offloaded 14.5 billion yuan ($2 billion) worth of shares on a net basis in January via trading links with Hong Kong, extending their selling to a record sixth month, according to data compiled by Bloomberg.US-based money manager GW&K Investment Management LLC, which made a big bet on China, closed its emerging-markets equity fund last month. Top Chinese macro hedge fund Banxia slashed stock positions last month as the rout deepened, taking losses after acknowledging mistakes betting on a rapid economic recovery.Burry wasn’t the only fund manager buying up Alibaba shares last quarter. The company was the biggest new buy for the Canada Pension Plan Investment Board. On the flip side, Tiger Global Management exited its position in the retailer, selling 1.48 million shares worth $128 million.Burry’s firm, meanwhile, dropped all its bearish positions in the quarter and instead snapped up shares across industries including health care, financials and of course tech.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"hasMoreComments":false,"newsSizeData":{"likeSize":4,"commentSize":0,"repostSize":1,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}