Singapore's Asia Genesis closes hedge fund after losing bets on China, Japan
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5 Articles
Singapore's Asia Genesis closes hedge fund after losing bets on China, Japan
HONG KONG: Singapore-based Asia Genesis Asset Management is liquidating its hedge fund after a "significant and unprecedented drawdown" following missteps in Chinese and Japanese bets. The Asia Genesis Macro Fund lost 18.8 per cent in the first weeks of January, Chief Investment Officer Chua Soon Hock said
‘Big mistakes’: Singapore hedge fund to shut after wrong bets on China, Japan
Founder Chua Soon Hock says his confidence as a trader is lost after markets in Hong Kong and Japan turned against him. ‘I have lost my knowledge, trading and psychological edge’ following a tough 2023 and a disastrous start to 2024, he says.
The Singaporean hedge fund “Asia Genesis Asset Management” (Asia Genesis Asset Management) experienced an “unprecedented contraction” after the Chinese stock market plummeted and erroneously shorted Japanese stocks, and is about to close its macro fund.
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