China's Run Ending? Hedge Fund Changes Stance From Bull To Bear
(KCBS) - That recent slump in China's stock market could be a sign of times to come.
The Wall Street Journal says the world largest hedge fund, Bridgewater Associates, is telling clients there are no safe places to invest.
The kicker is that Bridgewater, up till now, has been a noted bull on China, but the firm is telling investors that its views on China have changed from earlier thinking the market slowdown wouldn't be influential on China's economy, to now thinking that even those who haven't been hit by the Shanghai slide will still be psychologically affected by the events, which in turn will depress economic activity in China.
An economic downturn in China would have a big impact on Apple, which has seen its iPhone sales soar in China over the past year, thanks to consumers jumping all over the larger screened 6 and 6-Plus. iPhone sales nearly doubled in Apple's fiscal third quarter compared to a year earlier.