Global Investors Reveal China Stocks They Picked and Ditched

Some of the world’s top institutional investors have been disclosing the U.S.-listed Chinese stocks they bought, sold, and held pat on in the fourth quarter, as uncertainties persisted about the outlook for the battered technology and consumer e-commerce sectors after last year’s regulatory storm.

Regulatory filings to the U.S. Securities and Exchange Commission (SEC) covering the fourth quarter of 2021 reveal that Goldman Sachs Group Inc., Morgan Stanley and JPMorgan Chase & Co. all trimmed their holdings in e-commerce heavyweight Alibaba Group Holding Ltd. The latter two investment banks, along with BlackRock Inc. and Cathie Wood’s ARK Investment Management LLC, also offloaded shares in Baidu Inc. Many big investors loaded up on new-energy vehicle (NEV) makers Nio Inc. and Li Auto Inc., amid expectations that the booming market for battery-powered cars will continue to grow rapidly.