DeepSeek sparks hope for renaissance in China's technology megacaps

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DeepSeek sparks hope for renaissance in China's technology megacaps - Business Standard

Quick Summary:

Analysts estimate cloud revenues for the December quarter rose 9.7 per cent from a year ago at Alibaba and 7.6 per cent at Baidu, compared with 19 per cent at Amazon.com Inc.and 31 per cent at Microsoft Corp.

Still, the gauge of Hong Kong-listed Chinese tech stocks is trading at less than 17 times estimated forward earnings, below the Nasdaq 100’s 27 times and even its own five-year average of 25 times.

China’s tech stocks still face pressure from US tariffs on e-commerce shipments as well as Washington’s efforts to restrict the Asian nation’s access to the most advanced chips.