Alibaba, Tencent nonetheless ‘benchmark’ in China techs, investor says

Alibaba and Tencent stay China’s high know-how shares — whilst Beijing continues to ramp up regulatory stress on its huge web corporations, says Jackson Wong of Amber Hill Capital.

“At this level, I am unable to see another 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 to this point this yr.

The highest 10 constituents of the Hold Seng index didn’t embody 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?

Challenges forward

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