Hedge Funds Sold Record Chinese Stocks on Tuesday, Goldman Says
- Managers sold longs and added to shorts, according to note
- Traders returned from weeklong holiday to volatile market
Hedge funds sold a record amount of Chinese shares on Tuesday after a key policy meeting disappointed traders with no major stimulus, according to a Goldman Sachs Group Inc. trader note.
“Hedge funds not only unwound their long positions but added shorts to their books as well, with long sells being double the amount of short sells,” according to the note dated Thursday.