China's markets have stumbled, but its top tech stocks could rise 20% this year, analyst says [CNBC]
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Source: CNBC
VCG | Getty Images People visit the Tencent stand during the 1st Digital China Summit at Strait International Conference and Exhibition Center on Apr. 22, 2018 in Fuzhou, China. There's still a lot of upside for Chinese tech giants Baidu , Alibaba and Tencent — known as the BAT stocks — because investors see them as a safe bet, a research analyst told CNBC on Wednesday. That's despite steep losses on Tuesday and Wednesday for Tencent — which runs, among other things, a game distribution platform called WeGame — as China reportedly halted approvals for game licenses. And, more generally, the prediction comes amid a negative performance from Chinese stock markets since January that has partially been attributed to Beijing's ongoing trade spat with the U.S. Ray Wang, principal analyst at Constellation Research, predicted that those BAT stocks could ultimately post 2018 gains ranging from 15 and 20 percent. I still think that there
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