S&P's Famous FANG Trade Has Nothing on China Four-Stock Boom
- Tech shares account for half of MSCI China’s rally this year
- Megacaps Tencent, Alibaba have surged 40 percent in 2017
An employee mops the floor in a building lobby at the Alibaba Group Holding Ltd. headquarters in Hangzhou, China.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
China is having its own FANG moment.
Just four Internet stocks account for more than half of the MSCI China Index’s 23 percent rally this year. Tencent Holdings Ltd. and Alibaba Group Holding Ltd. have led the charge, surging at least 40 percent, followed by JD.com Inc. and Baidu Inc. That’s helped lift the index’s valuation to levels last seen in 2010.