Hedge fund Bridgewater offloading stakes in BABA and BIDU

KEY POINTS 

• Hedge fund giant Bridgewater Associates divested from U.S.-listed Chinese stocks in the second quarter, signaling a clear pullback from the market.
• Longtime China bull Ray Dalio, who founded Bridgewater Associates, had previously defended his investments in China.
   

• Hedge fund giant Bridgewater Associates divested from U.S.-listed Chinese stocks in the second quarter, signaling a clear pullback from the market amid rising geopolitical strains and weakening investor confidence in China's economic prospects.

  According to its latest quarterly update to the U.S. Securities and Exchange Commission — known as 13F — on Wednesday, the fund closed out stakes in several Chinese companies, including major names like Baidu, Alibaba, JD.com, PDD Holdings, Nio, Trip.com Group, and Yum China. Other names include Qifu Technology and Ke Holdings.