shares of BYD Co.Ltd. BYDDF fell more than 12% on Wednesday morning after the Hong Kong session Warren Buffettis fixed Berkshire Hathaway BRK reduced his stake in the company.

What happened: Berkshire sold 1.33 million shares of BYD at an average price of HK$277.1016 (about $47 million), with the group now owning 218.719 million shares and reducing its stake from 20.04% to 19.92%, as of a stock exchange registration.

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merits: BYD’s gross profit in the first half had more than tripled to nearly 3.6 billion yuan ($521 million), driven by rapid growth in sales volume, which helped partially offset inflationary pressures from commodities. Revenue rose 65.71% to 150.6 billion yuan over the same period, led by strong sales.

take experts: Yang Liu, Atlantis Investments Chairman and Chief Investment Officer tells CNBC’s “Squawk Box Asia,” the latest move, “could be a warning sign that the market could be [coming] to a major correction.”

“There’s too much uncertainty, and I think so [Buffett] got a little nervous,” she said.

“Perhaps this recession ahead of us for the US economy and also overall weaker Chinese consumption are weakening investor confidence on a larger scale.”

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