Top China Hedge Fund Blames Fickle Global Capital for Chinese Stock Rout

00:00

00:00/00:00

Listen to this article 1x

Foreign investors loaded up on Chinese mainland stocks following the Politburo’s pro-growth policy statement in July, but that buying spree proved fleeting. Photo: Bloomberg

(Bloomberg) — A top-performing Chinese macro hedge fund blamed global capital for sinking the country’s stocks to the lowest levels since November.

Foreign funds are primary drivers of Chinese stocks’ recent sell-off, said Li Bei, founder of Shanghai Banxia Investment Management Center. Overseas investors stirred up market volatility and, “taken together, they are a bunch of aimless flies,” she said in an article posted on social media platform WeChat.