After $500 Billion Rout, Optimism Grows for China: Tech Watch
- Goldman Sachs, UBS upbeat on China tech stocks after slump
- Cloud computing’s pandemic winners trounce sector megacaps
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Beaten-down Chinese technology stocks are getting a fresh lease of life and some strategists are calling a turn.
Having buckled under the weight of government crackdowns for much of the year, the Nasdaq Golden Dragon China Index has risen 16% in little more than a month. It’s still down 45% since hitting a record in February, a move that wiped out $500 billion in market value.