Ash Alankar, Columnist

Options Market Likes China’s Mobile-First Revolution

China’s biggest tech firms look set to overtake America's FAANGs.

August 25, 2017 at 2:00 AM UTC

By Ash Alankar

Ash Alankar is the global head of asset allocation and risk management at Janus Henderson Investors.

Coming on strong.
Photographer: Andrew Burton/Getty Images

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China is no stranger to revolution, be it cultural, political or economic. But the ready adoption of a mobile-first approach to technology, which has propelled the most populous country to the global forefront -- and storefront -- of the digital age, may be the most far-reaching reformation yet.

China’s online search, e-commerce and content landscape is dominated by Baidu Inc., Alibaba Group Holding Ltd. and Tencent Holdings Ltd., collectively known as the BATs. In May, Alibaba and Tencent joined a group of 11 titans with a market value of more than $300 billion, ranking seventh and 10th on that measure. The first five names on the list are, in order, Apple Inc., Google parent Alphabet Inc., Microsoft Corp., Amazon.com Inc. and Facebook Inc.