An equal-weighted basket of China’s seven tech heavyweights including Alibaba Group Holding Ltd. (BABA, 9988.HK) and Tencent Holdings Ltd.(TCEHY, 0700.HK) — dubbed the “7 titans” by Societe Generale SA — has gained more than 40% this year. That compares with an about 10% drop in an index of the Magnificent Seven stocks, whose slump has also pushed the Nasdaq 100 Index (^NDX) to the brink of a correction.
SocGen named the Chinese cohort, which also includes Xiaomi Corp. (XIACY, 81810.HK), BYD Co. (BYDDY, 1211.HK), Semiconductor Manufacturing International Corp. (0981.HK), JD.com Inc. (JD, 9618.HK) and NetEase Inc. (NTES, 9999.HK), based on their market cap and growth trajectory. The basket currently trades at 18 times forward earnings, a discount of more than 40% to the Magnificent Seven, according to a Feb. 28 note by strategists led by Frank Benzimra.
中概科技股七巨头 （7 Titans）
阿里巴巴
腾讯
小米
比亚迪
京东
中芯国际
网易
都不碰
