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HEDGEFLOW-Hedge funds log biggest weekly selloff in over 5 months in Asia EM stocks, Goldman says
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HEDGEFLOW-Hedge funds log biggest weekly selloff in over 5 months in Asia EM stocks, Goldman says
Sep 29, 2025 2:38 AM

HONG KONG, Sept 29 (Reuters) - 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 ( GS ) 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' ( GS ) note,

dated Friday, said.

The MSCI EM Asia equities Index ended last week down 1.6%,

snapping a three-week rally.

Also reflecting the risk aversion sentiment before the

holiday were Chinese onshore investors. They have rushed to

lower leverage, with the Shanghai Composite recording "largest

daily trimming of margin balances" on Friday since April 2025,

said Wee Khoon Chong, APAC market strategist at BNY.

Emerging Asian stocks have far outperformed global markets

this year buoyed by U.S. interest rate cut expectations and

China's artificial intelligence boom.

The MSCI EM Asia equities Index surged 24%,

compared to a 15% gain in the MSCI World.

Within the region, Korean shares hit an all-time

high last week, jumping 41% year-to-date. China's benchmark

Shanghai Composite also reached a decade high earlier

this month.

China will begin its eight-day Golden Week holiday on

Wednesday.

South Korea will kick off a long holiday week from October 3

to 9, while the Taiwan market will be closed on October 6 and

10, and Hong Kong will be shut on October 1 and 7.

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