The Globe and Mail reports in its Tuesday, Jan. 30, edition that hedge funds snapped up battered Chinese stocks over three days last week at the fastest pace in more than five years, says Goldman Sachs. A Reuters dispatch to The Globe reports that Goldman says the cumulative net buying of Chinese equities for Jan. 23 to 25 marked the biggest three-day shopping spree in more than five years. This surge in hedge fund interest in Chinese stocks coincided with Beijing stepping up efforts to restore confidence in the world's second-biggest economy, which has been hit by a crisis in the property sector and weak growth. Hong Kong's blue-chip stock index gained 6 per cent in the three trading sessions starting Tuesday, while Shanghai's broader stock index rose more than 3 per cent. The turnaround in sentiment came after a long period where hedge funds, in eight of the prior 10 weeks, held mostly bearish bets that China's stock would fall. Goldman says most of the action last week reflected hedge funds entering into outright long positions -- betting stock prices would rise -- rather than exiting short positions. The shift in hedge fund positioning toward China adds to signs that a sentiment shift may be taking place.