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The Asia Hedge Fund 25: Asia Rising

China’s sharp correction can’t stop the surging growth of hedge funds in the region.

Chinese stocks lost almost $4 trillion in market capitalization in just six weeks between mid-May and early July, taking Value Partners chairman Cheah Cheng Hye on a wild ride as his predominantly China-­focused funds faced steep drops in valuation. His $2.4 billion Classic Fund lost about 18 percent of its

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