Aug
17

Hedge Funds Shed Shares in Alibaba and Baidu in Second Quarter

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As China’s stock market took a free fall earlier this summer, big money managers looked to sell shares of two of the largest Chinese tech companies listed in the United States — Alibaba and Baidu — during the second quarter.

Coatue Management sold 2.2 million shares of Baidu, China’s biggest Internet search company —roughly 74 percent of its stake — in the quarter that ended on June 30, according to a regulatory filing on Friday. In the same period, Tiger Global Management sold 6.6 million shares of Alibaba, almost its entire stake in the Chinese online shopping platform…

Hedge Funds Shed Shares in Alibaba and Baidu in Second Quarter

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