Bridgewater Associates exited its holdings in U.S.-listed Chinese companies in the second quarter, signaling a decisive retreat as geopolitical tensions and shifting sentiment darkened the outlook for the world’s second-largest economy.
According to its August 13 13F filing, the hedge fund sold positions in 16 Chinese stocks worth $1.41 billion, including e-commerce giants Alibaba Group (NYSE:BABA), JD.com (NASDAQ:JD), and PDD Holdings (NASDAQ:PDD), search engine Baidu (NASDAQ:BIDU), electric vehicle maker Nio (NYSE:NIO), travel platform Trip.com Group (NASDAQ:TCOM), and restaurant chain Yum China (NYSE:YUMC).
