Although Chinese internet companies have seen their stocks stumble, two global investment banks say the sector appears to be a solid bet.
UBS Global Wealth Management says, meanwhile, that Chinese internet companies offered "solid share buyback prospects" and have high cash flows. "Internet is essentially a structural growth story in China. We don't see it changing anytime soon," Woods told CNBC on Tuesday. "It sold off aggressively ... from mid-April. So we feel there's upside in that particular sector."
Will they make me whole if I lose any money?
Quit watching or reading CNBC and see your returns jump up significantly
I'll stick with American
Uh, right. Yessiree.
JUST IN:'Great moral collapse'
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