After a tough period for Chinese tech stocks, investors are now hoping that the worst is behind them. Goldman Sachs reveals how investors can trade the sector.
Chinese stocks are on investors' radars once more, after the mainland announced a relaxation of Covid-19 restrictions that raised hopes of an economic recovery in the world's second-largest economy. One segment of the stock market that has been particularly beaten down is the tech sector. Chinese tech stocks have endured some difficult years following a regulatory crackdown and the effects of pandemic restrictions, though the sector has recovered slightly on reopening hopes.
2022 at 14% year-on-year," Goldman's analysts, led by Allen Chang, said. This is on the back of resilient demand and revenue contribution from large enterprises in 2022, he added. Chang said he expects demand from these large enterprises to be "more visible" in 2023, while demand from small-and-medium enterprises could also surge in the second half of 2023 if China's economy returns to normalcy.
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