“Bats” and “Faangs” might sound like ominous terms, but in the investment world, these acronyms refer to the most popular technology stocks in the global market.
Chinese conglomerates Baidu, Alibaba and Tencent have been the darlings of the Asian technology scene over the past few years, delivering stellar returns for retail investors in China and to global institutions.
But despite their stellar run, Bats and other Asian tech titans are spluttering in terms of share price performance this year, raising the question of whether the sector’s rally is running out of steam.
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