CX Briefing: Global Funds Ditch U.S.-Listed China Stocks

A rundown of the news making headlines in and around China:

U.S.-listed stocks: Bridgewater Associates LP and many other global funds retreated from major U.S.-listed Chinese firms in the second quarter, with some cutting their holdings in internet giants like Alibaba Group Holding Ltd. and JD.com Inc. The hedge fund also exited its positions in Baidu Inc., PDD Holdings Inc. and Nio Inc. Some of these Chinese firms are now mired in domestic price wars, which have bruised their profitability in recent months. An executive at a U.S. family office also cited the strong recent performance of Chinese mainland-listed stocks as a reason for the pullback.