Hedge funds unimpressed by Chinese internet giants’ peppy earnings

Source: theglobeandmail.com theglobeandmail.com

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A set of bumper earnings reports from the likes of Baidu Inc and other Chinese internet giants isn’t impressing hedge funds and other investors who have cut exposure to the stocks and seem to be waiting for more good news. For the now, investors remain wary of a market overshadowed by simmering Sino-U.S. tensions over technology and geopolitics and a lack of clarity on policy and regulation. This coolness toward the sector was displayed last week when search engine giant Baidu and e-commerce titan Alibaba Group Holdings delivered the first earnings briefings since China reopened its economy following the removal...