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China tech giants lost their swagger and may never get it back

The Straits Times LogoThe Straits Times1w ago

China tech giants lost their swagger and may never get it back

Quick Summary

June 24, 2022 9:05 AMHONG KONG (BLOOMBERG) - On trading floors in New York and Hong Kong, the brightening mood toward Chinese technology companies is unmistakable: With stocks like Alibaba Group Holding and Tencent Holdings surging from multi-year lows, talk of a new bull market is growing louder.

Even in a best-case scenario, China's once-swaggering tech titans are now effectively utilities eking out single-digit growth.

Alibaba, as well as Tencent, are expected to deliver single-digit revenue growth in 2022.


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Article Details

Category: Economy

Topics: Tencent First Tech Alibaba Capital Year Media Venture Months Companies China

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-06-24, 09:05:11

News Timezone: GMT +8:00

News Source URL: straitstimes.com

Language: English

Reading Time: 5 minutes read

Article Length: 859 words

Coverage Area: Singapore

Availability: Desktop Web, Mobile Web

News ID: 6767

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About The Straits Times

The Straits Times Logo

Main Topics: Economy

Official Website: straitstimes.com

Update Frequency: 7 posts per day

Year Established: 1845

Headquarters: Singapore

News Last Updated: 10h ago

Coverage Areas: Singapore

Ownership: Independent Company

Publication Timezone: GMT +8:00

News Language: English

RSS Feed: Available (XML)

Website Security: Secure (HTTPS)

Publisher ID: #25

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