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China's markets have stumbled, but its top tech stocks could rise 20% this year, analyst says

2018-08-17 09:53:04      View:

China's markets have stumbled, but its top tech stocks could rise 20% this year, analyst says


  • Ray Wang, principal analyst at Constellation Research, predicted that the Baidu, Alibaba and Tencent �� the so-called BAT stocks �� will go up by between 15 and 20 percent by the end of the year.
  • That's despite steep losses on Tuesday and Wednesday for Tencent as China reportedly halted approvals for game licenses, and blocked the sale of a video game on Tencent's platform.
  • Wang said those top Chinese technology conglomerates will be resilient against any trade war escalations.

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