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<Research>HSBC Research: Limited Direct Impact of Tariffs on Dotcoms; TENCENT/ JD-SW/ NTES-S Offer Risk-Reward Advantage
Recommend 32 Positive 51 Negative 28 |
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According to a report from HSBC Global Research, while the Chinese internet sector will experience higher volatility amid trade tensions, the direct impact of tariff policies is limited. The broker expected Pinduoduo (PDD.US) to be the company facing the greatest risk as 14% of its revenue comes from the US market. Still, a Buy rating was given to the company by the broker. Based on five key indicators, namely stock performance, valuation, net cash as a percentage of market value, shareholder returns, and free cash flow yield YTD, HSBC Global Research believed that TENCENT (00700.HK) (TCEHY.US), JD-SW (09618.HK) (JD.US), and NTES-S (09999.HK) (NTES.US) would have a risk-reward advantage. All of them were rated as Buy. Their target prices are detailed in a separate table. AAStocks Financial News |
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