An easing of China’s regulatory crackdown is lifting the shares of the nation’s giant technology companies, helping them to finally outperform their US counterparts after a dismal year.
An equal-weighted basket of China’s three internet giants -- Baidu Inc., Alibaba Group Holding Ltd. and Tencent Holdings Ltd. -- has rallied 37% since mid-March, according to calculations by Bloomberg. In contrast, a portfolio of their US peers -- Meta Platforms Inc., Amazon.com Inc., Apple Inc., Microsoft Corp. and Google parent Alphabet Inc. -- has declined 11%.
