Chinese Stocks Losing Ground In U.S After “Black Monday” In Homeland

Jumei International Holding Ltd (ADR) (NYSE:JMEI) is another victim of today’s Chinese market slump, with its shares trading 17.94% lower at $9.67 per share. The online retailer of beauty products has had a difficult year so far, witnessing a decline of 30.06% in its share price year-to-date. The hedge funds in our database maintained a positive sentiment for Jumei International Holding Ltd (ADR) (NYSE:JMEI) during the second quarter. The aggregate holdings in the company were up to $85.88 million against previous quarter holdings worth $74.05 million. The number of hedge funds with stakes in the beauty product retailer also rose sharply to 15 from just six hedge funds in the prior quarter. Rob Citrone’s Discovery Capital Management was among the major stakeholders of Jumei International Holding Ltd (ADR) (NYSE:JMEI), having ownership of 1.57 million shares valued at $35.87 million.

Alibaba Group Holding Ltd (NYSE:BABA) is among the least affected Chinese stocks trading on the US stock market. The shares of the e-commerce company are down by 2.87%, trading at $66.22 per share as of the reporting period. The e-commerce giant has had an undesirable run in 2015, with its share price declining by 37.37% year-to-date. The hedge funds in our database trimmed their positions in Alibaba Group Holding Ltd (NYSE:BABA) during the second quarter, with the aggregate equity positions dropping by nearly 18% to $4.77 billion. This is notable gievn the fact that the shares of the company were down by just 1.17% during the second quarter, indicating a large selloff from the hedge funds. Discovery Capital Management held the largest position in Alibaba Group Holding Ltd (NYSE:BABA) at the end of the June quarter, with 6.52 million shares with a market value of $536.73 million.

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