TCEHY - Why Alibaba Trip.com and Tencent Holdings Are No-Brainer Buys Right Now
2023-04-13 10:00:00 ET
As difficult as the past several months have been for U.S. companies and their stocks, it has been even worse for their Chinese counterparts. Between Beijing's continued crackdown on the country's technology outfits and the drastic measures aimed at curbing the spread of COVID-19, China's GDP growth fell to a multiyear low of 3% in 2022. The Shanghai Composite Index of the country's top companies' equities struggled accordingly, largely led lower by its tech stocks. Not all analysts are particularly hopeful about China's bounceback this year, either.
If you're looking for an investment opportunity few others are thinking about, though, consider buying the combination of China's Alibaba (NYSE: BABA) , Trip.com (NASDAQ: TCOM) , and Tencent Holdings (OTC: TCEHY) . These stocks are still more down than up, but that may not be the case for long.
These are tough stock picks to get behind if you're only looking at the recent headlines. As noted, China's economy is seemingly on the defensive. Beijing's targeted economic growth rate of 5% is better than last year's figure but is still one of the country's lowest growth targets in decades.
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Why Alibaba, Trip.com, and Tencent Holdings Are No-Brainer Buys Right Now