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<Research>Citi: US Investors Agree CN Internet Offers Attractive Opportunities; Long Funds Turn from UW to OW CN Shrs
Recommend 62 Positive 111 Negative 60 |
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Citi Research noted that US investors broadly agreed that China's Internet sector offered a very attractive opportunity in light of improving shareholder returns and earnings quality, as well as undemanding valuation. Citi said that in recent meetings with US investors, the main topics of discussion included the reasons for the recent rebound in China's Internet sector; latest China macro and companies’ underlying fundamentals; and shareholder return policy and valuation. Specifically, selective long funds turned from underweight to overweight in Chinese stocks, spotted the broker, noting sector ownership stake leaned towards long funds with selected participation from hedge funds. The most discussed stocks included TENCENT (00700.HK) and NTES-S (09999.HK) (NTES.US), BABA-SW (09988.HK) (BABA.US), JD-SW (09618.HK) (JD.US), Didi, MEITUAN-W (03690.HK), TRIP.COM-S (09961.HK) (TCOM.US) and TME-SW (01698.HK) (TME.US). Citi also saw strong interest in Sea Ltd. (SE.US) from long funds and hedge funds. AAStocks Financial News |
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