Posted on: April 5, 2021 Posted by: Betty Lee Comments: 0


Alibaba and Tencent stay China’s high know-how shares — at the same time as Beijing continues to ramp up regulatory strain on its huge web companies, says Jackson Wong of Amber Hill Capital.

“At this level, I can not see every other shares that may problem their positions in China,” Wong, director of asset administration at Amber Hill, instructed CNBC’s “Avenue Indicators Asia” on Thursday.

Alibaba and Tencent “are nonetheless the benchmark” amongst China’s tech shares, he mentioned. Wong’s household and Amber Hill each personal shares within the two firms.

His feedback come as Chinese language tech shares in Hong Kong lagged the opposite sectors up to now this yr.

The highest 10 constituents of the Hold Seng index didn’t embrace a single tech inventory on the finish of the primary quarter, in accordance with a CNBC evaluation utilizing information from Refinitiv Eikon.

What’s dragging down tech shares?

A variety of things have contributed to the comparatively poorer efficiency of the tech sector, which makes up greater than 42% of Hong Kong’s benchmark index.

One purpose is that bond yields are rising — and that hurts development shares like techs as a result of they scale back the relative worth of future earnings.

One other concern is delisting threats from the U.S. Chinese language tech shares which are additionally listed within the U.S. have taken a beating this yr, amid fears {that a} new U.S. regulation might cease the buying and selling of securities that fall foul of Securities and Alternate Fee guidelines.

Challenges forward



Supply hyperlink

Leave a Comment