Citi names 3 U.S. traded stocks set to benefit China's stimulus program

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Kraneshares CSI China Internet ETF أخبار

Tencent Holdings Ltd,Tencent Holdings Ltd,Trip.Com Group Ltd

Chinese internet stocks have risen 45% since the stimulus was announced, yet Citi think there's more upside.

Citi has identified three U.S.-traded Chinese stocks that are positioned to benefit from Beijing's recently announced economic stimulus program. China introduced several supportive policies last month to revive its economic growth and bolster market and consumer confidence. The Chinese government's efforts have already shown a significant impact, with Chinese internet stocks experiencing substantial gains last week.

Tencent has a diverse portfolio of businesses, including social media, gaming, and digital payment services, which could be impacted by increased consumer spending and online activity. "We believe the possible revive economic growth following positive stimulus policy will likely lead to improving advertisers ad spend sentiment which will benefit online ad revenues growth for Tencent, Weibo and others," the analysts noted.

 

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These six stocks remain Citi's Top Picks in China's internet sector after stimulus rallyThese six stocks remain Citi's Top Picks in China's internet sector after stimulus rally
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