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<Research>Citi: CN Internet Sector Top Performer YTD; CN AI Mkt Competition Expected to Intensify Notably Next Yr
Recommend 6 Positive 11 Negative 6 |
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China's internet sector has been the best-performing sector YTD, with a cumulative return of 36.5%, significantly outperforming Southeast Asia (+18.3%), India (+17.6%), Japan (+16.8%), the US (+16.2%), and South Korea (+12.8%), Citi Research published a research report saying. While debates continued over whether AI valuations are too high, Citi Research expected that, due to geopolitical risks and AI supply chain issues, the valuations of Chinese internet companies will continue to be at a discount relative to their global peers. However, with AI adoption brisk, competition among Chinese AI participants is likely to intensify notably in 2026, covering areas from AI cloud infrastructure to chatbots and various application scenarios. Nonetheless, monetization is expected to trail user traffic growth and that of global peers. The broker's top picks for 1H26 include core AI concept stocks, naming TENCENT (00700.HK) and BABA-W (09988.HK), stocks with solid earnings growth/ anti-cyclical characteristics, naming TRIP.COM-S (09961.HK) and NTES-S (09999.HK); and J&T EXPRESS-W (01519.HK) with high cross-border business exposure; as well as CENTURY HUATONG (002602.SZ) for game/ AI application potential. AASTOCKS Financial News Website: www.aastocks.com |
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