Star Hedge Fund Calls China Stocks Bottom, Says Time to Buy
- Shanghai Banxia sees bull market as economy may rebound soon
- About 78% of China hedge funds say stock gauge has hit bottom
Li Bei
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
A top-performing Chinese macro hedge fund said the nation’s stocks rout has run its course, predicting a bull market is around the corner.
Shanghai Banxia Investment Management Center, which manages more than 10 billion yuan（$1.4 billion), has rebuilt net-long positions in the mainland-traded A-share market to 40% as of the end of last month, according to its September investor letter seen by Bloomberg. The firm had kept equities low since June before adding exposure late last month.