| Videos | Channels | Search |
The surprising changes in China's top tech stocks
Beijing-based trader Fredrik Oqvist is focusing today's trade on the Chinese tech sector, and particularly on Tencent and Baidu. Tencent’s instant messaging product WeChat (known as Wixin on the mainland) has nearly 400 million users and competes against the likes of WhatsApp.
Tencent recently announced that it has 70 million registered user accounts outside of China, highlighting its global popularity. Last year alone the company’s revenue rose 53% to $1.96 billion.
Meanwhile, Baidu - often called "the Google of China" - saw net profit rise to 2.04 billion Chinese yuan for the first quarter of this year, even though growth was slower compared with the same period last year.
Fredrik is looking to pick up the Tencent stock if it gets below HK$300 and wants to adjust Baidu’s exit point towards HK$95.
01:26 minutes
Tags: baidu, beijing, china, chinarai, chinese technology, equitieis, facebook, google, internet, online chatting, profit, saxo, saxo bank, saxotv, search engines, social networks, stocks, tencent, trading, tradingfloor.com, video, web chat, wechat, whatsapp, wixin