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Alert, Cathie Wood Sells China Tech Stocks, Warning of Valuation Reset, Bloomberg

Cathie Wood’s Ark Investment Management has been selling Chinese tech stocks, with holdings in one of the firm’s funds falling to the lowest on record as Beijing’s crackdown on the sector intensifies.

Alert, China’s internet companies has rebounded in recent days after losing over $1 trillion of market value since mid-February

China’s weighting in Wood’s flagship Ark Innovation ETF has plunged to less than 1% from 8% as recently as February, while that of the Ark Next Generation Internet ETF has fallen to 5.4%, the lowest compared to month-end figures since Bloomberg began compiling the data in October 2014.
The paring of Chinese tech holdings by one of the world’s biggest thematic fund providers underscores how the sector is losing its allure as Beijing increases scrutiny of the industry’s data collection and offshore listings.
Many investors are wary of calling a bottom, even as a gauge of China’s internet companies has rebounded in recent days after losing over $1 trillion of market value since mid-February.

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Alert, Cathie Wood Sells China Tech Stocks, Warning of Valuation Reset, Bloomberg

Cathie Wood’s Ark Investment Management has been selling Chinese tech stocks, with holdings in one of the firm’s funds falling to the lowest on record as Beijing’s crackdown on the sector intensifies.

Alert, China’s internet companies has rebounded in recent days after losing over $1 trillion of market value since mid-February

China’s weighting in Wood’s flagship Ark Innovation ETF has plunged to less than 1% from 8% as recently as February, while that of the Ark Next Generation Internet ETF has fallen to 5.4%, the lowest compared to month-end figures since Bloomberg began compiling the data in October 2014.
The paring of Chinese tech holdings by one of the world’s biggest thematic fund providers underscores how the sector is losing its allure as Beijing increases scrutiny of the industry’s data collection and offshore listings.
Many investors are wary of calling a bottom, even as a gauge of China’s internet companies has rebounded in recent days after losing over $1 trillion of market value since mid-February.

Category 2: The Big Picture of the Digital Age

[genioux fact deduced or extracted from Bloomberg]

This is a “genioux fact fast solution.”

Tag Alerts those traveling at high speed on GKPath

Type of essential knowledge of this “genioux fact”: Essential Analyzed Knowledge (EAK).

Type of validity of the "genioux fact".

Inherited from sources + Supported by the knowledge of one or more experts.

Authors of the genioux fact

Fernando Machuca

References

Cathie Wood Sells China Tech Stocks, Warning of Valuation Reset, Abhishek Vishnoi and Carly Wanna, July 14, 2021, Microsoft News, Bloomberg.

ABOUT THE AUTHORS

Abhishek Vishnoi

Asia Markets Reporter

Extracted from LinkedIn

I have been covering Asia Pacific markets for more than 15 years. I report, write and edit stories on cash equities, special situations, capital markets and funds. I have also covered beats including economy, derivatives, transport, healthcare, consumer and banking.