Michael Burry Increases JD Position to $27.58, Sees Hong Kong Benefiting From Korea AI-Memory Unwind

According to Michael Burry's Substack update on Wednesday, the "Big Short" investor increased his JD.com position to $27.58 and disclosed it as one of his top three holdings. Burry stated he believes the recent pullback in memory stocks in South Korea and AI-linked stocks in Japan will benefit the Hong Kong stock market, which is dominated by Chinese tech companies.

Alibaba stock rose 11% on Wednesday after local media outlet Jiemian reported the company disclosed narrowing losses in its instant-commerce business during the June quarter, with overall profitability remaining steady. Hong Kong's Hang Seng Index has climbed nearly 6% this month, with Chinese tech firms accounting for roughly 35-40% of the index by weight.