PDD - Chinese Internet Stocks In Dip-Then-Rebound Mode Amid Jittery Sentiment

• The strengthening in the Chinese yuan spurred investors to rotate back into growth and consumer names. Whether the rotation play into value and cyclical has halted remains to be seen.
• Tencent Holdings faced several negative developments in the past week. Yet, shareholders were steadfast in their commitment to the social media and gaming giant.
• An alleged regulatory investigation into Tencent-backed KE Holdings adds to a long string of altercations with the authorities that inevitably draw further scrutiny to the parent company.
• Tencent's core businesses are facing headwinds while increasing investments could hamper profitability.

For further details see: