Baidu, NetEase to Chart Path Ahead as China Tightens Grip on Tech Firms
- Investor sentiment dented by increasing Chinese state control
- Southeast Asia’s OCBC and Maybank may post strong earnings
This article is for subscribers only.
Baidu Inc. and NetEase Inc. will report earnings just as China tightens its grip on technology companies, sparking concern there will be further restrictions on private enterprises.
With Beijing facing pressure to restore confidence after a $7 trillion stock rout, its moves to steer the technology industry is a double-edged sword. While it may divert more resources to artificial intelligence and semiconductors, investors might be less enthused at a time when Chinese stocks are struggling to gain traction.