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☆ Bulk of valuation re-rating in China tech 'is probably behind us,' UBP says
▼ + stars: | 2023-02-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBulk of valuation re-rating in China tech 'is probably behind us,' UBP saysVey-Sern Ling of the bank says "the rally has fizzled somewhat."

HONG KONG, Feb 17 (Reuters Breakingviews) - The disappearance of Bao Fan is a chilling dampener on the reopening of the world's second largest economy. China Renaissance was valued at $2.3 billion in its own IPO in 2018 when it was ranked second on China tech deals per Dealogic. Entities including China International Capital Corp (3908.HK) and Citic Securities (600030.SS), also have to grapple with President Xi Jinping’s common-prosperity campaign, making it unclear whether these firms’ erstwhile generosity will resume when advisory activity picks up. It also noted that in September Chinese authorities took Cong Lin, the bank’s president and chairman of its Hong Kong securities unit, into custody. Column by Yawen Chen in Hong Kong and Una Galani in Mumbai.

☆ 'The worst is over': Tech investors are bullish on investing in China again
▼ + stars: | 2023-02-07 | by ( Sheila Chiang | ) www.cnbc.com time to read: +5 min

Liu Ranyang | China News Service | Getty ImagesTech investors say the worst is over as China reopens and exits its zero-Covid policy. The firm raised nearly $500 million for a new China tech fund set to close by early this year — more than earlier plans for $400 million. Tech companies see government supportInvestors are not worried of new challenges on the regulatory front. Gobi's Tang said, "I do think that they're going to do everything they can to try to spur the economic growth. "There's still a lot to catch up [in semiconductor tech] for China.

☆ Worried about Alibaba’s share price slump? Analysts name 4 alternatives in China tech
▼ + stars: | 2023-02-02 | by ( Zavier Ong | ) www.cnbc.com time to read: +3 min

No Chinese tech stock has generated as much excitement as Alibaba , one of the most recognizable names in the Chinese internet sector. More than 76% of analysts covering the stock rate it a "buy," giving it average upside of 31%, according to FactSet data. Kuaishou is rated buy or overweight by 94% of analysts covering the stock, who give it average upside of around 24.4%. It is rated buy by 88% of analysts covering it, and has average upside of 37.7%, according to FactSet data. Rounding off the list is food delivery giant Meituan , with average upside of 32.5%.

☆ Morning Bid: 'Soft landing' or 'no landing'?
▼ + stars: | 2023-01-31 | by ( ) www.reuters.com time to read: +5 min

As U.S. Federal Reserve's Federal Open Market Committee kicks off its two-day policymaking meeting, the economic news from around the world brightened considerably. China's economic activity swung back to growth in January after three months of contraction, according to official business surveys released on Tuesday. The euro zone economy confounded forecasts for a quarterly contraction of gross domestic product in the final three months of 2022. Eurostat estimated GDP in the bloc rose 0.1% in Q4 despite consensus expectations for a fall of 0.1%. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Factbox: Chinese chipmakers caught in U.S.-China tech spat
▼ + stars: | 2023-01-31 | by ( Josh Horwitz | ) www.reuters.com time to read: +4 min

TSMC is the world's most valuable chipmaker and counts Apple Inc (AAPL.O) and Nvidia Corp (NVDA.O) among major clients. Its government-backing and ambition to make high-end chips caught the attention of the United States which put the firm on its Entity List in 2020. To date, most of SMIC's sales are made using the outdated 45 nanometer process node and above. Since late 2020, this specialisation in older chips has proven a boon due to a global shortage of lower-end chips. It produces DRAM at the 19 nanometer node and is moving into the 17 nanometer node - process nodes behind the industry leading-edge.

☆ We will definitely see a 'consumption rebound' in China, says MSA Capital's Ben Harburg
▼ + stars: | 2023-01-23 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe will definitely see a 'consumption rebound' in China, says MSA Capital's Ben HarburgBen Harburg, MSA Capital managing partner, joins 'Tech Check' to break down his thoughts on value in China tech, consumption rebound, and more.

☆ US-China Tech War: How Money for Semiconductor Factories Costs Americans
▼ + stars: | 2023-01-19 | by ( Taylor Dorrell | ) www.businessinsider.com time to read: +15 min

If the first Cold War was defined by the development of nuclear weapons, this Tech Cold War is defined by the computer chip. The massive Intel plant in Ohio is a key part of the race with China for the future of tech. Even before the Intel plant, the Columbus area was well acquainted with these sorts of trade-offs. But, the Ohio State study found, Columbus' residential tax-abatement programs did little to meaningfully address the housing problem, while draining the city's funds. Federal, state, and local subsidies add up to billions of dollars that Intel is saving on its new Ohio semiconductor factory.

☆ Goldman Sachs says Asia tech is about to rebound — and reveals a chip stock to play it
▼ + stars: | 2023-01-13 | by ( Zavier Ong | ) www.cnbc.com time to read: +2 min

But Goldman Sachs believes the region's tech sector is headed for a "major bottom" — and subsequent upturn — in the first half of 2023, which could open the door for investors to jump back into Asia tech stocks. Investors seeking to cash in should act early, according to Takayama, who said stock prices will "rebound rapidly." TSMC among top picks One of Goldman's top picks is chip behemoth Taiwan Semiconductor Manufacturing Company . Fourth-quarter revenue at TSMC rose 43% to 625.5 billion Taiwan dollars, which fell short of estimates, according to FactSet data. Nevertheless, TSMC remains an analyst favorite, with 90% of analysts covering the stock giving it a buy rating, according to FactSet.

HONG KONG, Jan 9 (Reuters Breakingviews) - Jack Ma is leading China’s consumer internet out of the sin bin. After his fintech champion Ant said its founder will cede control, shares in affiliate Alibaba (9988.HK), rose 7% in Hong Kong on Monday morning. The company on Saturday announced that Ma's 50%-plus voting stake will be whittled down to roughly 6%, and a fifth independent director will join the board. Follow @mak_robyn on TwitterloadingCONTEXT NEWSChinese financial technology company Ant on Jan. 7 announced its founder Jack Ma will give up majority control of the company as part of a broader "corporate governance optimization". Ma held more than 50% of voting rights in Ant via his investment vehicle, Hangzhou Yunbo, which effectively controlled two other entities that owned a combined 53.46% stake in Ant.

☆ Taiwan exports fall for 4th month in December, decline seen extending into Q1
▼ + stars: | 2023-01-07 | by ( ) www.reuters.com time to read: +3 min

Exports dropped 12.1% by value last month from a year earlier to $35.75 billion, the lowest in 20 months, the Ministry of Finance said on Saturday. That followed a 13.1% drop in November, and was slightly better than Reuters poll forecast for a 13.3% contraction. Taiwan's total exports of electronics components in December fell 1.4% to $16.04 billion, with semiconductor exports up 0.8% from a year earlier. At $14.28 billion in December, Taiwan's exports to China, the island's largest trading partner, were down 16.4% from a year ago, after suffering a 20.9% drop in November. December's exports to the United States were down 2.6%, compared with an 11.3% contraction recorded the previous month.

☆ Jack Ma's Alibaba, China tech giants are making a comeback post zero Covid
▼ + stars: | 2023-01-05 | by ( Laura He | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Chinese tech giants are witnessing a dream start to the year. US-listed shares of Chinese e-commerce firms Alibaba (BABA), JD.com (JD) and Pinduoduo (PDD) added $53 billion to their combined market value on Wednesday. The surge comes as investors are feeling optimistic that Chinese regulators will go easy on tech firms this year and also introduce measures to boost growth in the industry. The change in sentiment comes after Jack Ma’s Ant Group won a key approval for capital expansion. Chinese tech companies have faced a sweeping regulatory crackdown since late 2020, which drove investors away.

☆ The Nasdaq had its worst year since 2008. These are the best and worst performers and what to expect in 2023
▼ + stars: | 2022-12-27 | by ( Samantha Subin | ) www.cnbc.com time to read: +9 min

2022 brought an end to an impressive bull run for technology — and the worst year for the Nasdaq Composite since 2008. Energy stocks, meanwhile, found favor in investors' portfolios, as did healthcare and financials. Given this outlook, CNBC examined some of the worst and best-performing stocks in the Nasdaq 100 this year. Energy stocks Energy won 2022, benefitting from volatile oil prices triggered by the war in Ukraine. Meta Platforms was the worst-performing FAANG name, and one of the poorest-performing Nasdaq stocks.

☆ China tech: Expect to see more policies geared toward raising domestic consumption, KraneShares says
▼ + stars: | 2022-12-21 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChina tech: Expect to see more policies geared toward raising domestic consumption, KraneShares saysBrendan Ahern of KraneShares discusses the outlook for China's tech sector and why "domestic consumption needs to be such an area of focus."

☆ From recovery to regulation: How China's tech giants could fare in 2023 after a bruising year
▼ + stars: | 2022-12-20 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +11 min

But investors are starting to feel slightly more optimistic toward Chinese tech giants in 2023. Jakub Porzycki | Nurphoto | Getty ImagesIt's been another rough year for China's tech stocks. Xin Sun King's College LondonHow the exit from zero-Covid is handled could ultimately determine the extent of the rebound for China tech. Since the start of 2021, the Hang Seng tech index in Hong Kong, which includes most of China's tech giants, has fallen more than 50%. Firstly, Chinese tech firms have been cutting costs and exiting non-core businesses in order to boost profitability.

☆ Southeast Asian venture capital firms expect to be pickier in 2023 than in 2022
▼ + stars: | 2022-12-20 | by ( Sheila Chiang | ) www.cnbc.com time to read: +6 min

Venture capital-backed companies only raised $369 billion for the first three quarters of 2022, according to Crunchbase data. Malte Mueller | Fstop | Getty ImagesVenture capital firms in Southeast Asia will probably be pickier next year, with valuations plunging and economic headwinds slowing growth in 2022. Sequoia Southeast Asia raised a $850 million fund in June, East Ventures raised $550 million in July, and Insignia Ventures Partners raised $516 million in August. Indonesia-based e-grocery company HappyFresh ceased operations in Malaysia after seven years, while Grab discontinued its quick commerce service GrabMart Kilat in Indonesia. "The 15-minute model of quick commerce in Southeast Asia is very difficult because the unit economics are very negative.

☆ Goldman Sachs reveals outlook for Greater China tech – and names its top picks for 2023
▼ + stars: | 2022-12-19 | by ( Zavier Ong | ) www.cnbc.com time to read: +3 min

One segment of the stock market that has been particularly beaten down is the tech sector. Goldman Sachs , however, has a mixed outlook on the sector for 2023. In a note titled "Greater China Tech: Demand outlook by sub-sectors; key indicators and top picks for 2023" on Dec. 9, the bank shared its outlook and top stock picks for the various sub-sectors. Goldman's top picks in the automotive software segment include ThunderSoft, Desay and ArcSoft Corp, while the bank's top pick in the cybersecurity software segment is Beijing Venustech. Smartphones Goldman expects growth in the smartphones segment to remain flattish in 2023, driven by soft shipments in China.

☆ Premarket stocks: The Grinch comes for retailers
▼ + stars: | 2022-12-16 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

What’s happening: US retail sales, which measure the total amount of money that stores make from selling goods to customers, fell 0.6% in November, the weakest performance in nearly a year. The Fed factor: November’s report could indicate that consumers are feeling the double-punch of sky-high inflation and painful interest rate hikes from the central bank. This retail sales data adds to recessionary concerns, as it suggests that consumers may be becoming more cautious with their spending. Those increases were spurred by the Federal Reserve’s unprecedented campaign of harsh interest rate hikes to tame soaring inflation. The Fed announced on Wednesday that it will continue to raise interest rates — albeit by a smaller amount than it has been.

☆ TSMC bucks broader chip slump with 50% revenue surge, helped by Apple iPhone orders
▼ + stars: | 2022-12-09 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

TSMC makes chips for a wide array of companies, including the latest semiconductors for Apple and Qualcomm as well as SoftBank -owned Arm. TSMC , the world's largest contract chipmaker, on Friday reported a surge in revenue in November thanks in part to orders of semiconductors for high-end smartphones such as Apple's iPhone. In October and November, TSMC's revenue totaled around $14.1 billion. Apple CEO Tim Cook also attended the event and said the iPhone maker would buy TSMC's U.S.-made chips. While TSMC's November revenue is getting a boost from Apple, analysts are worried about weaker orders next year.

☆ Why a globally critical chip firm is caught in the middle of U.S.-China tech battle
▼ + stars: | 2022-12-06 | by ( Arjun Kharpal | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhy a globally critical chip firm is caught in the middle of U.S.-China tech battleDutch firm ASML produces a machine required to manufacture the most advance chips. But extensive U.S. lobbying of the Netherlands government has prevented ASML from shipping that machine to China. This has created some tension between Washington and Amsterdam, CNBC's Arjun Kharpal reports.

☆ A globally critical chip firm is driving a wedge between the U.S. and Netherlands over China tech policy
▼ + stars: | 2022-12-05 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +4 min

The U.S. has been putting pressure on the Netherlands to block exports to China of high-tech semiconductor equipment. The Netherlands is home to ASML, one of the most important companies in the global semiconductor supply chain. Instead, it makes and sells $200 million extreme ultraviolet (EUV) lithography machines to semiconductor manufacturers like Taiwan's TSMC. ASML has not been able to ship an EUV machine to China since 2019 due to various Dutch export restrictions, according to a company spokesperson. According to a Reuters report from 2020, the Dutch government withdrew ASML's license to export its EUV machines to China after extensive lobbying from the U.S. government.

☆ China tech stocks have 'a lot of upside' and peak regulation is over, fund management firm says
▼ + stars: | 2022-12-01 | by ( Abigail Ng | ) www.cnbc.com time to read: +1 min

The Chinese government is unlikely to introduce new regulations for the internet tech sector and there could be more support going forward, according to Jonathan Krane of KraneShares. "I do not foresee much regulation going forward." He added that the Chinese tech industry makes up a big portion of the economy. "It's a very important sector, it's the consumer of China — so I think you're gonna see a lot of support around the sector going forward as China reopens." Chinese tech stocks have had some difficult years following the regulatory crackdown and amid the ongoing Covid restrictions, though the sector has recovered slightly on reopening hopes.

☆ We shouldn't expect there will be much relaxation of China's zero-Covid policy, says author Gordon Chang
▼ + stars: | 2022-11-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe shouldn't expect there will be much relaxation of China's zero-Covid policy, says author Gordon ChangGordon Chang, 'The Great U.S.-China Tech War' author, and Ann Lee, 'What the U.S. Can Learn From China' author, join 'TechCheck' to discuss whether protests in China will lead to an easing of Covid restrictions, what it means for businesses operating in China and more.

☆ The underweight nature of Chinese equities has been epic, analyst says
▼ + stars: | 2022-11-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe underweight nature of Chinese equities has been epic, analyst saysAndrew Maynard, managing director and head of equities at China Renaissance, discusses China tech stocks on "Squawk Box Europe."

☆ Chart of the Week: China tech rallies
▼ + stars: | 2022-11-04 | by ( Melissa Lee | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChart of the Week: China tech ralliesKWEB rebounds to close out the week. With CNBC's Melissa Lee and the Fast Money traders, Tim Seymour, Dan Nathan, Guy Adami and Jeff Mills.

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