The lone bear on Alibaba and Tencent says Chinese tech stocks’ rout to persist until China can enunciate end of crackdown

Source: Tech – South China Morning PostThe trillion-dollar rout afflicting Chinese tech stocks may not end until China’s government restores investors’ trust in the securities, as shareholders had been left defenceless by the aftermath of unexpected regulatory crackdowns.That is the view of Manuel Muhl of DZ Bank, a Frankfurt-based lender, who downgraded China’s internet-platform sector last month, making him the only analyst globally with a “sell” rating on the industry torch-bearers Alibaba Group Holding and Tencent Holdings.A…Read More

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