Slashed prices reflect new reality for China’s technology firms


NEW YORK: After years of breakneck growth that catapulted Chinese tech firms into stock market giants, a number of strategists are coming to terms with the new reality of a sector beset by slower expansion and lower earnings.

Morgan Stanley has lowered target prices for tech firms including Alibaba Group Holding Ltd and Tencent Holdings Ltd, while China International Capital Corp said it assumes zero valuation for some tech investments in 2022.

Limited time offer:
Just RM5 per month.

Monthly Plan

RM13.90/month
RM5/month

Billed as RM5/month for the 1st 6 months then RM13.90 thereafters.

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

China , Alibaba , Tencent , JP Morgan & Co

   

Next In Business News

Australia Q1 inflation slowdown disappoints, rate cut bets gone
Ringgit rebounds on softer US$ after PMI data
Positive earnings outlook for Axis REIT
FBM KLCI remains in bullish mode on US corporate results beat
Trading ideas: MAHB, Capital A, Chin Hin, Cypark, Gadang, Comfort Gloves, HHRG, Haily
Crest Builder unit bags RM486mil job
Axis-REIT shows improved quarterly performance
Vietnam apparel companies raise concerns over 2H production
PMIs improve even as weak yen intensifies price pressures
Optimistic outlook for Grade A premium offices

Others Also Read