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KIC leaves Alibaba for Baidu shares in the US

Shusi He
The Korean sovereign wealth fund has divested all $221.5 million worth of its Alibaba equity investments in the US and increased its Baidu holdings by 450% by the end of June.
KIC leaves Alibaba for Baidu shares in the US

At the end of June, Korea Investment Corporation (KIC), the country’s sole sovereign wealth fund, cleared all $221.5 million worth of its US holdings in Chinese internet giant Alibaba while pouring new investments into competitor Baidu.

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