CHINA TOPIX

Billionaire George Soros Dumps Alibaba and Baidu Shares - Buys Stake in China ETF

Benjie Batanes   |

Aug 17, 2015 06:35 AM EDT

American billionaire George Soros' investment company has sold the majority of its shares in Alibaba and Baidu, and bought a substantial stake in a Chinese ETF company. This company invests in Chinese-owned and based corporations, according to its second quarter report. Alibaba's shares suffered a loss of more than $100 billion since late last year which may be the reason for the sale.