A top-performing Chinese macro hedge fund blamed global capital for sinking the country’s stocks to the lowest levels since November.

Foreign funds are primary drivers of Chinese stocks’ recent selloff, said Li Bei, founder of Shanghai Banxia Investment Management Center. Overseas investors stirred up market volatility and, “taken together, they are a bunch of aimless flies,” she said in an article posted on social media platform WeChat.

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Top China Hedge Fund Blames Foreign Investors for Stock Rout