HEDGE FUNDS DOUBLE DOWN ON CHINA AHEAD OF RATE CUT

Hedge funds favoured Asian emerging markets in the week to Feb. 15, piling into company stocks in China, Korea, Taiwan, and India, in moves that came just before China slashed its benchmark mortgage rate. China's central bank on Tuesday announced its biggest ever reduction in the benchmark mortgage rate, lowering the five-year loan prime rate to 3.95% from 4.20%.

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