Chinese Electric Car Giant’s Slump Fuels Speculation on Warren Buffett Adjusting Holdings
- Shares amounting to 20.49% stake appear in Hong Kong’s CCASS
- BYD falls even after media report that Berkshire bet unchanged
The stake held by Buffett’s firm in BYD remains unchanged as shown by data available to BYD.
Photographer: Qilai Shen/BloombergBYD Co. shares sank the most in nearly two years after a stake matching the size of Berkshire Hathaway Inc.’s position in the Chinese electric-car giant appeared in Hong Kong’s clearing system, fueling speculation that Warren Buffett’s company may be selling its holdings.
The 20.49% stake -- identical to the size of Berkshire’s last reported BYD position in Hong Kong as of December -- entered the Central Clearing and Settlement System, exchange data as of Monday showed. While there are many reasons a stake might appear in CCASS, such moves are often seen by traders as precursors to sales because shares must enter the system before transactions can be settled.