Goldman Sachs is behind a US$10.5 billion block-trade selling spree that erased US$35 billion of values in Chinese technology and US media stocks. Photo: EPA-EFE
Goldman Sachs is behind a US$10.5 billion block-trade selling spree that erased US$35 billion of values in Chinese technology and US media stocks. Photo: EPA-EFE
China technology
Business /  Banking & Finance

Goldman sold US$10.5 billion of stocks in block trades, hitting Baidu, Tencent Music, iQiyi and US media amid ‘forced deleveraging’ by mystery fund

  • Goldman sold stakes in Baidu, Tencent Music, Vipshop, as well as shares in ViacomCBS, Discovery, Farfetch, iQiyi and GSX Techedu, according to email
  • Media reports linked forced sales by banks with ties to Archegos Capital Management controlled by Bill Hwang, former Julian Robertson protégé

BloombergReuters
Bloomberg and Reuters

Updated: 4:25pm, 29 Apr, 2021

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Goldman Sachs is behind a US$10.5 billion block-trade selling spree that erased US$35 billion of values in Chinese technology and US media stocks. Photo: EPA-EFE
Goldman Sachs is behind a US$10.5 billion block-trade selling spree that erased US$35 billion of values in Chinese technology and US media stocks. Photo: EPA-EFE
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