Goldman Sachs reports that Asia-focused long/short equity hedge funds suffered an average loss of 18.6% through July 28, marking the single worst month on record for this strategy. Concentrated positions in AI and semiconductor stocks triggered the correction, erasing 21 percentage points of year-to-date gains. The WT China Fund, which surged 120% in the first half, dropped 17% between July 1 and 17. Long positions in SK Hynix and Samsung Electronics were particularly hard hit, with both stocks having been heavily overweighted before the plunge.
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