ARKK - Tencent: Unfairly Dragged Down By Alibaba's Woes
- Over in China, the sentiment was mixed as investors weigh supportive domestic policies against the signing of legislation that threatens to delist Chinese companies off U.S. stock exchanges.
- The MCHI ETF was particularly hard hit last week given the sharp drops in its top three holdings, all internet stocks.
- KE Holdings and JD Health could see continued market interests as the well-followed Ark ETFs increase their holdings in the duo.
- The announcement by the authorities of the launching of an anti-monopoly investigation against Alibaba specifically spooked the market.
- I argue that the few negative drivers for Alibaba aren't applicable for Tencent and in some cases even beneficial.
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Tencent: Unfairly Dragged Down By Alibaba's Woes