{"id":13125,"date":"2023-04-17T13:44:09","date_gmt":"2023-04-17T13:44:09","guid":{"rendered":"http:\/\/lynettelockhart.com\/client\/big-investors-dump-china\/"},"modified":"2023-04-17T13:44:32","modified_gmt":"2023-04-17T13:44:32","slug":"big-investors-dump-china","status":"publish","type":"post","link":"http:\/\/lynettelockhart.com\/client\/big-investors-dump-china\/","title":{"rendered":"Big investors dump China shares, add oil to portfolios -Goldman"},"content":{"rendered":"<p>By Carolina Mandl<\/p>\n<p>NEW YORK (Reuters) &#8211;     Big global money managers got rid of a high volume of Chinese equities in recent days, while adding U.S. energy shares to portfolios at a near-record pace, according to a Goldman Sachs report.<\/p>\n<p>Managers decided to sell Chinese equities amid heightened geopolitical tensions between the world&#8217;s second largest economy and the United States.<\/p>\n<p>&#8220;As concerns heightened around geopolitics, Chinese equities were net sold for the first time in a month, driven by risk unwinds with long sales outpacing short covers,&#8221; Goldman Sachs said, adding investors had sold both offshore and onshore shares.<\/p>\n<p>Besides geopolitics risks, managers are closely watching China&#8217;s economic recovery from the COVID-19 slump. The MSCI Index is up 9.6% this year, after a 22% drop in 2022. <\/p>\n<p>Goldman Sachs compiled data from its clients, which include hedge funds and other big money managers, for the period between April 7 and April 13.<\/p>\n<p>Gross exposure to China, which includes funds&#8217; short and long positions, went down 2.6% for this period.<\/p>\n<p>While selling China, hedge funds net bought U.S. energy shares at the fastest pace in three months, Goldman Sachs said. The move was driven by a rally in crude oil price this year after Saudi Arabia and its allies in OPEC+ surprised traders by announcing an unexpected cut in their output target at the start of April.<\/p>\n<p>The bank noted that last week&#8217;s U.S. net buying was at a near-record pace for the past five years.<\/p>\n<p \/>\n<p> (Reporting by Carolina Mandl in New York; Editing by Peter Graff)<\/p>\n<p><a href=\"http:\/\/lynettelockhart.com\/client\/big-investors-dump-china\/file-photo-an-investor-looks-at-his-mobile-phone-in-2\/\"><img decoding=\"async\" src=\"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportEconomy\/tagreuters.com2023binary_LYNXMPEJ3G0FR-VIEWIMAGE.jpg\" alt=\"tagreuters.com2023binary_LYNXMPEJ3G0FR-VIEWIMAGE\"><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Carolina Mandl NEW YORK (Reuters) &#8211; Big global money managers got rid of a high volume of Chinese equities in recent days, while adding U.S. energy shares to portfolios at a near-record pace, according to a Goldman Sachs report. Managers decided to sell Chinese equities amid heightened geopolitical tensions between the world&#8217;s second largest [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":13126,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[1216],"tags":[],"class_list":["post-13125","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-u-s-economy"],"jetpack_featured_media_url":"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportEconomy\/tagreuters.com2023binary_LYNXMPEJ3G0FR-VIEWIMAGE.jpg","_links":{"self":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/13125","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/comments?post=13125"}],"version-history":[{"count":1,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/13125\/revisions"}],"predecessor-version":[{"id":13127,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/13125\/revisions\/13127"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media\/13126"}],"wp:attachment":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media?parent=13125"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/categories?post=13125"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/tags?post=13125"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}