TOKYO -- Key U.S. funds are slashing positions with exposure to China while focusing more on American technology giants, a Nikkei analysis shows, adopting a more defensive strategy amid uncertainties in the world's second-largest economy.
Concern over a Chinese economic slowdown has grown since August, when credit risks at China Evergrande Group and other leading property developers deepened. The Nasdaq Golden Dragon China Index, which tracks securities in U.S.-listed Chinese companies, had dropped 15% as of the end of September from the recent peak marked at the end of July.
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