0927 GMT - China's software and IT service sector is facing some challenges given near-term pressure on domestic IT demand, CCB International Cathy Chan says in a research note. Chan says economic uncertainty is weighing on the sector, as seen from the lackluster 1H results of software and IT service companies due to shrinking demand. However, the overseas business could be an opportunity, as traditional AI companies seek to expand their exposure in the IoT perception, AI and big data sectors. Chan holds a neutral view on the sector. Kingdee International Software remains the preferred sector pick. (tracy.qu@wsj.com)
(END) Dow Jones Newswires
September 17, 2024 05:27 ET (09:27 GMT)
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