Aspex Management loses 16% in October as AI stock selloff hits Asia

Nov 6, 2026 02:24 (6h ago)

Aspex Management lost about 16% in October during a selloff in AI-linked stocks.
The $14 billion fund remained up 9% through October, according to a source.
Asian equity long-short hedge funds fell 8.3% on average, versus 2.5% globally.

Aspex Management, one of Asia's largest hedge funds, lost about 16% in October as a selloff in AI-linked stocks pressured global markets. The $14 billion Hong Kong-based, pan-Asian equities fund still gained 9% through October, but the monthly decline was among its largest. The Nasdaq Composite fell 5%, while Korea's KOSPI, Taiwan's benchmark indexes and China's Star 50 index declined 16%, 6% and 24%, respectively. Goldman Sachs data showed Asian equity long-short hedge funds fell 8.3% on average in October, compared with a 2.5% global decline. Aspex has been an active cornerstone investor in Hong Kong listings and backed AI startup MiniMax and optical transceiver maker Zhongji Innolight. The fund did not immediately respond to a Reuters request for comment.