Michael Burry defies market trends with contrarian bets on Chinese tech giants Alibaba and JD.com

In a bold move reminiscent of his Big Short fame, money manager Michael Burry doubled down on Chinese tech giants Alibaba and JD.com despite a deepening rout in Chinese shares. Alibaba now tops Scion Asset Management's portfolio, reflecting a 50% boost in stake. However, the contrarian bets are facing headwinds, with both stocks down year-to-date amid a broader sell-off in Chinese equities. Burry previously bet on these firms in 2022, closed positions in 2023, and reopened them later. Amidst a $6.5 trillion market value wipeout, Burry's strategic moves stand out in a challenging China market.

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By Jacob Gu

Michael Burry, the money manager made famous in the Big Short, added to wagers on Chinese tech giants Alibaba Group Holding Ltd. and JD.com Inc. in recent months even as a rout in Chinese shares deepened.

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