Vipshop Holdings

--FILE--A Chinese mobile phone user uses the mobile app of Chinese online fashion retailer Vipshop (vip.com) in Chongqing, China, 6 November 2015. Hedge funds reduced their holdings of China's biggest e-commerce companies during the third quarter, with Vipshop Holdings Ltd. being cut the most, as investors pulled out of the country's assets amid the worst market rout since the 2008 financial crisis. They also reduced their collective holdings of Alibaba Group Holding Ltd., the country's biggest online retailer, to the lowest level since the company went public in September 2014, data compiled by Bloomberg show. While hedge-fund investment in JD.com Inc. dropped from a record high during the prior three months, they still ended the quarter owning 14 times more shares than a year earlier. Vipshop, the most volatile U.S.-traded Chinese stock, is little changed since the end of the third quarter after reporting weaker-than-forecast net revenue in the third quarter. Alibaba and JD.com have each rallied more than 30 percent from this year’s lows, helping lead a 26 percent advance in the Bloomberg China-US Equity Index since the end of September.He lili—Imaginechina/AP