Alibaba, Tencent to Provide Snapshot of China’s Economic Landscape

More buybacks expected as tech firms boost shareholder returns
Hon Hai, Foxconn Industrial rely on AI to underpin growth

WATCH: Arete Research analyst Shawn Yang and Bloomberg Intelligence’s Robert Lea discuss their outlook for China’s tech sector.Bloomberg

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By Rachel Yeo, Justina T Lee, Reina Sasaki, and Harshita Swaminathan

August 9, 2024 at 1:42 AM UTC

Updated on

August 12, 2024 at 1:34 AM UTC

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Alibaba Group Holding Ltd., Tencent Holdings Ltd. and JD.com Inc. will provide a snapshot of China’s economy and consumer sentiment, as another somber earnings season is expected in the region.

The tech giants remain focused on boosting shareholder returns, so more buybacks might be in store when they report, according to Bloomberg Intelligence analysts Robert Lea and Jasmine Lyu.