Hedge funds log biggest weekly selloff in over 5 months in Asia EM stocks, Goldman says

Global hedge funds recorded their largest weekly selloff in emerging Asia equities in more than five months last week, ahead of a major holiday season, according to a client note from Goldman Sachs seen by Reuters. Market participants attributed the selloff to profit-taking, particularly in technology stocks, as investors sought to reduce exposure ahead of potential market uncertainties during the long holidays. The hedge fund selling was led by Chinese equities – both onshore and offshore – followed by India and Taiwan, for the week between September 19 and September 25, Goldman Sachs’ note, dated Friday, said.Read More