Cathie Wood’s Ark Invest ramps up bets on Chinese tech, adds Alibaba and Baidu

Star stock picker Cathie Wood, head of Ark Invest, continued to increase holdings in Chinese tech stocks this week, buying Alibaba (9988) for a third consecutive day following last month’s first purchase in four years.

Ark Innovation ETF bought roughly 14,500 Alibaba shares worth about US$2.74 million (HK$21.37 million) on Thursday, after acquiring US$5.5 million and US$4.1 million worth on Wednesday and Tuesday, respectively, according to exchange filings.

On Thursday, The company also added 45,500 Baidu (9888) shares valued at US$6.4 million, following purchases worth US$2.97 million and US$6.9 million on Wednesday and Tuesday.

STAFF REPORTER