China’s crackdown on big tech will last for a while, BlackRock says. Here’s what they’re buying instead

39
11
Favorite

China’s crackdown on big tech will last for a while, BlackRock says. Here’s what they’re buying instead

cnbc2021-06-23

KEY POINTS This cycle of Chinese regulation on technology giants will likely last for a few years, Lucy Liu, a BlackRock portfolio manager, said during a mid-year Asia investment outlook. As a result...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Report

Comment（11）

bzlim
·2021-06-29
Waiting to enter tencent at a good price.
Reply
Like
Report
AshLim
·2021-06-25
Buy
Reply
Like
Report
Benstonk
·2021-06-25
$Tencent Holding Ltd.(TCEHY)$buying 10cents
Reply
1
Report
ProsPaddles
·2021-06-23
Those hedge fund companies don't want retail investors to buy so they can scoop up cheap stock like alibaba!
Reply
1
Report
Ajinomoto
·2021-06-23
Baba sleeping for very long . Time to gap up .
Reply
Like
Report
RonTay
·2021-06-23
Cool
Reply
1
Report
enderra
·2021-06-23
Hmm…
Reply
1
Report
WannaBluffy
·2021-06-23
I may bet against this trend...
Reply
2
Report
Fold Replies
- WannaBluffy:
  comment and like
  2021-06-24
  Reply
  Report
Trader12
·2021-06-23
Cool
Reply
2
Report
hensel
·2021-06-23
J
Reply
Like
Report
ElunMask
·2021-06-23
Cool
Reply
1
Report
Fold Replies
- heyheyhey88:
  Like
  2021-06-23
  Reply
  Report

Most Discussed

7x24

All

Terms and Conditions·Privacy Policy

Company: TTMF Limited. Tech supported by Xiangshang Yixin.

Email：uservice@ttm.financial

{"i18n":{"language":"en_US"},"data":{"share":"https://ttm.financial/m/news/1161321618?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2021-06-23 16:46","share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","id":"1161321618","market":"us","top_or_hot":-1,"title":"China’s crackdown on big tech will last for a while, BlackRock says. Here’s what they’re buying instead","media":"cnbc","content":"<div>\n<p>KEY POINTS\n\nThis cycle of Chinese regulation on technology giants will likely last for a few years, Lucy Liu, a BlackRock portfolio manager, said during a mid-year Asia investment outlook.\nAs a result...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/23/chinas-crackdown-on-big-tech-will-last-for-a-while-blackrock-says.html\">Source Link</a>\n\n</div>\n","source":"cnbc_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>China’s crackdown on big tech will last for a while, BlackRock says. Here’s what they’re buying instead</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nChina’s crackdown on big tech will last for a while, BlackRock says. Here’s what they’re buying instead\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-23 16:46 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/23/chinas-crackdown-on-big-tech-will-last-for-a-while-blackrock-says.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nThis cycle of Chinese regulation on technology giants will likely last for a few years, Lucy Liu, a BlackRock portfolio manager, said during a mid-year Asia investment outlook.\nAs a result...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/23/chinas-crackdown-on-big-tech-will-last-for-a-while-blackrock-says.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BABA","symbol_name":"阿里巴巴","start_time":0,"source_url":"https://www.cnbc.com/2021/06/23/chinas-crackdown-on-big-tech-will-last-for-a-while-blackrock-says.html","article_id":"1161321618","we_media_id":null,"thumbnails":[],"rights":{"source":"cnbc_highlight","url":"https://www.cnbc.com/2021/06/23/chinas-crackdown-on-big-tech-will-last-for-a-while-blackrock-says.html","rn_cache_url":null,"customStyle":"body{padding-top:10px;}.ArticleHeader-headline{#titleStyle#}a{#lv2TextColor#}.ArticleHeader-time, .Author-authorNameAndSocial a{#sourceStyle#;}","selectors":".PageBuilder-pageWrapper","filters":".ArticleHeader-eyebrow, .RelatedTags-relatedTags","directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=1161321618","pubTimestamp":1624437981,"sourceInfo":{"source_id":"cnbc_highlight","name":"CNBC"},"weMediaInfo":null,"summary":"KEY POINTS\n\nThis cycle of Chinese regulation on technology giants will likely last for a few years, ","collect":0,"end_time":0,"defaultTopTitle":"cnbc.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BABA":"阿里巴巴","00700":"腾讯控股","09988":"阿里巴巴-W","TCEHY":"腾讯控股ADR"},"translate_title":"贝莱德说，中国对大科技的打击将持续一段时间。他们买的是","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"00700":0.9,"09988":0.9,"BABA":0.9,"TCEHY":0.9},"content_text":"KEY POINTS\n\nThis cycle of Chinese regulation on technology giants will likely last for a few years, Lucy Liu, a BlackRock portfolio manager, said during a mid-year Asia investment outlook.\nAs a result, the firm is staying away from the stocks of dominant tech companies for a while longer, she said.\nThe U.S.-listed shares of Alibaba are down about 9% so far this year, while those of Hong Kong-listed Tencent are up about 3%.\n\nBEIJING — The Chinese government’s crackdown on big technology companies will likely last for a few years, which means those stocks aren’t a buy for now, a BlackRock portfolio manager said Wednesday.\nSince autumn, regulators have ramped up scrutiny on the country’s tech giants such asAlibabaandTencent. After years of relatively unrestrained rapid growth, becoming some of the biggest companies in the world, the corporationsnow face finesandnew rules aimed at curbing monopolistic practices.\n\"This regulatory cycle is long-lasting compared to 2018,\" Lucy Liu, portfolio manager for global emerging markets equities at BlackRock, said during a mid-year Asia investment outlook event.\nIn contrast with that period of increased scrutiny, which ran for about six months to a year, she said that this time, \"we think it's going to be a multi-year cycle.\"\nBlackRock, the world's largest asset manager, is neutral on Chinese stocks overall, and only recommends buying specific sectors or stocks.\nIn tech, Liu said the big companies' earnings are affected not just by regulation but also competition. She noted new trends in e-commerce have prompted companies to invest more in infrastructure, which has a lower initial return on investment.\nAs a result, BlackRock plans to \"stay a little bit away from the large, dominant platforms for a little bit longer,\" Liu said.\nChinese tech stocks have generally traded lower over the last several months. Some of the stocks briefly rose in April after news thatMeituanand some other tech companies hadissued pledges to comply with anti-monopoly rules.\nWhat BlackRock is buying\nInstead, Liu said the firm prefers small and mid-sized internet companies since they have less exposure to regulatory risks and could still see significant user growth.\nShe particularly likes companies operating in areas such as short video and livestreaming. Liu did not name specific stocks in her presentation.\nOne of the few publicly listed Chinese short video companies isKuaishou, up about 70% since its IPO in February but down roughly 25% over the last 60 trading days.\nThe stocks of Chinese tech giants are among the largest publicly traded companies in the world.\nFor example, Tencent is the largest stock listed in Hong Kong by market capitalization, worth roughly the equivalent of $716.63 billion. Its shares are up about 3% so far this year.\nThe U.S.-listed shares of Alibaba are down about 9% during that time.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":150294683,"gmtCreate":1624902191042,"gmtModify":1703847595333,"author":{"id":"3572436349218639","authorId":"3572436349218639","name":"bzlim","avatar":"https://static.tigerbbs.com/3b2aafaf14823285f7393917b6ff4f54","vip":1,"crmLevel":3,"crmLevelSwitch":0,"authorIdStr":"3572436349218639","idStr":"3572436349218639"},"htmlText":"Waiting to enter tencent at a good price.&nbsp;","listText":"Waiting to enter tencent at a good price.&nbsp;","text":"Waiting to enter tencent at a good price.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/150294683","repostId":1161321618,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":122745961,"gmtCreate":1624634773653,"gmtModify":1703842438567,"author":{"id":"3561324941812646","authorId":"3561324941812646","name":"AshLim","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"3561324941812646","idStr":"3561324941812646"},"htmlText":"Buy","listText":"Buy","text":"Buy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/122745961","repostId":1161321618,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":122407958,"gmtCreate":1624629291074,"gmtModify":1703842185027,"author":{"id":"3574851080358491","authorId":"3574851080358491","name":"Benstonk","avatar":"https://static.tigerbbs.com/c8a964cfa9223e4704989c9a4b9b772e","vip":1,"crmLevel":3,"crmLevelSwitch":1,"authorIdStr":"3574851080358491","idStr":"3574851080358491"},"htmlText":"<a href=\"https://laohu8.com/S/TCEHY\">$Tencent Holding Ltd.(TCEHY)$</a>buying 10cents","listText":"<a href=\"https://laohu8.com/S/TCEHY\">$Tencent Holding Ltd.(TCEHY)$</a>buying 10cents","text":"$Tencent Holding Ltd.(TCEHY)$buying 10cents","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/122407958","repostId":1161321618,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":121854318,"gmtCreate":1624459657334,"gmtModify":1703837468158,"author":{"id":"3571919991986405","authorId":"3571919991986405","name":"ProsPaddles","avatar":"https://static.tigerbbs.com/5743775abc150fab8749a749f0511b63","vip":1,"crmLevel":5,"crmLevelSwitch":0,"authorIdStr":"3571919991986405","idStr":"3571919991986405"},"htmlText":"Those hedge fund companies don't want retail investors to buy so they can scoop up cheap stock like alibaba!&nbsp;","listText":"Those hedge fund companies don't want retail investors to buy so they can scoop up cheap stock like alibaba!&nbsp;","text":"Those hedge fund companies don't want retail investors to buy so they can scoop up cheap stock like alibaba!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/121854318","repostId":1161321618,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":121050175,"gmtCreate":1624445843997,"gmtModify":1703836895222,"author":{"id":"3577082443804507","authorId":"3577082443804507","name":"Ajinomoto","avatar":"https://static.tigerbbs.com/2cf9b6c2dc1db3b2efff9a5448092468","vip":1,"crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"3577082443804507","idStr":"3577082443804507"},"htmlText":"Baba sleeping for very long . Time to gap up .&nbsp;","listText":"Baba sleeping for very long . Time to gap up .&nbsp;","text":"Baba sleeping for very long . Time to gap up .","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/121050175","repostId":1161321618,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":123784635,"gmtCreate":1624439401627,"gmtModify":1703836720567,"author":{"id":"3574146787705880","authorId":"3574146787705880","name":"RonTay","avatar":"https://static.tigerbbs.com/1594a9580303e25fc499e55d51c6e7aa","vip":1,"crmLevel":9,"crmLevelSwitch":0,"authorIdStr":"3574146787705880","idStr":"3574146787705880"},"htmlText":"Cool","listText":"Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/123784635","repostId":1161321618,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":123718865,"gmtCreate":1624438768457,"gmtModify":1703836700872,"author":{"id":"4087521676136770","authorId":"4087521676136770","name":"enderra","avatar":"https://static.tigerbbs.com/a89ee516b054862f0994d3db40f388a7","vip":1,"crmLevel":1,"crmLevelSwitch":0,"authorIdStr":"4087521676136770","idStr":"4087521676136770"},"htmlText":"Hmm…","listText":"Hmm…","text":"Hmm…","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/123718865","repostId":1161321618,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":123710030,"gmtCreate":1624438562220,"gmtModify":1703836694656,"author":{"id":"3586986998667843","authorId":"3586986998667843","name":"WannaBluffy","avatar":"https://static.tigerbbs.com/1dd14463a45a95644b65d2bd68777ecd","vip":1,"crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"3586986998667843","idStr":"3586986998667843"},"htmlText":"I may bet against this trend...","listText":"I may bet against this trend...","text":"I may bet against this trend...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/123710030","repostId":1161321618,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4992889,"gmtCreate":1624524558042,"gmtModify":1663229902635,"authorId":3586986998667843,"author":{"id":3586986998667843,"idStr":"3586986998667843","authorId":3586986998667843,"name":"WannaBluffy","avatar":"https://static.tigerbbs.com/1dd14463a45a95644b65d2bd68777ecd","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":123710030,"type":1,"supId":0,"prevId":0,"content":"comment and <u>like</u>","text":"comment and <u>like</u>","html":"comment and <u>like</u>"}],"langContent":"EN"},{"id":123735265,"gmtCreate":1624438436457,"gmtModify":1703836690899,"author":{"id":"3583066640460328","authorId":"3583066640460328","name":"Trader12","avatar":"https://static.tigerbbs.com/81188fd05efe81b5dffcf6fbc5544145","vip":1,"crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"3583066640460328","idStr":"3583066640460328"},"htmlText":"Cool","listText":"Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/123735265","repostId":1161321618,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":123735018,"gmtCreate":1624438389134,"gmtModify":1703836690079,"author":{"id":"3559607465862317","authorId":"3559607465862317","name":"hensel","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":1,"authorIdStr":"3559607465862317","idStr":"3559607465862317"},"htmlText":"J","listText":"J","text":"J","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/123735018","repostId":1161321618,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":123731276,"gmtCreate":1624438178995,"gmtModify":1703836684486,"author":{"id":"3579673345882908","authorId":"3579673345882908","name":"ElunMask","avatar":"https://static.tigerbbs.com/4561a4b19c908bdc775c4daf68fb2fc6","vip":1,"crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"3579673345882908","idStr":"3579673345882908"},"htmlText":"Cool","listText":"Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/123731276","repostId":1161321618,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4972749,"gmtCreate":1624438363736,"gmtModify":1663229801937,"authorId":3558876054604575,"author":{"id":3558876054604575,"idStr":"3558876054604575","authorId":3558876054604575,"name":"heyheyhey88","avatar":"https://static.tigerbbs.com/50ee2864cdab4efa6686704c3929c8f0","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":123731276,"type":1,"supId":0,"prevId":0,"content":"Like","text":"Like","html":"Like"}],"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":39,"commentSize":11,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}