The Hong Kong market is under pressure. Which stocks did the investor from “Shorting the Market” buy?

Investor Michael Burry, known as the inspiration for one of the characters in the movie *The Big Short*, still considers the Hong Kong market attractive for buying and continues to increase his investments in Hong Kong companies.

On October 11, on his blog “Cassandra Unchained,” Burry reported that he had increased his recently opened position in BYD, a manufacturer of electric vehicles, hybrids, and batteries. According to the investor, he had been patiently waiting for an opportunity to buy the company’s shares at current prices and is pleased to hold them in his portfolio.

Burry’s portfolio currently includes shares in online retailer JD, restaurant chain Haidilao, home appliance and electronics manufacturer Haier, IT giant Tencent, and internet company Meituan. The investor believes these companies, like most stocks on the Hong Kong market, are significantly undervalued.

"Hong Kong stocks are under pressure," he wrote. Hong Kong's main stock index, the Hang Seng, has lost more than 13% from this year's high, reached in late January.

However, Burry isn’t willing to buy all Chinese stocks at current prices. In particular, he has no plans yet to re-enter Alibaba, which he sold in August, shifting his funds to JD.com. Burry wrote that he would be willing to consider a purchase if the company reverses its decision to issue new shares to finance AI infrastructure or if Alibaba’s stock price falls to between 70 and 79 Hong Kong dollars. At the close of trading on October 9, Alibaba shares on the Hong Kong Stock Exchange were trading at 107 Hong Kong dollars each.

The investor buys shares primarily directly on the Hong Kong Stock Exchange, but also acquires some on the U.S. over-the-counter market.

This article was AI-translated and verified by a human editor