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Chinese technology stocks surged in price last week, driven by the news of the planned virtual summit between the two nations and a sense of relief as U.S. policymakers averted a Congressional debt ceiling standoff to avoid a default. In addition, Mark Haefele, chief investment officer at UBS Global Wealth Management, said there could be investment opportunities on both sides, especially in the areas of capital markets, technology, cybersecurity, and climate change, even if there is a minimal material improvement in the relationship between the two countries. So this could be an opportune time for investors to bet on Chinese stocks.
We think Chinese stocks NetEase, Inc. (NTES) and Weibo Corporation (WB) could be good bets now because they are well-positioned to generate solid returns on a better U.S.-China relationship.
