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Morning Brief: Hedge Fund Favorite Losing Investor Support

The Chinese e-commerce giant closed near its 2018 low after a fund manager gave a critical presentation on the company.

Hedge fund favorite fell 2 percent, to close at $35.80, just above its 2018 low. At a conference in Hong Kong on Wednesday, Kok Hoi Wong, chief investment officer for APS Asset Management, called out the Chinese e-commerce giant for making “regrettable and silly investments” and its inability to

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