China Tech Giants Earnings Under Spotlight After SVB Turmoil
This article is for subscribers only.
China’s biggest high-tech companies, which have weathered their own volatility in the last few years, may be positioned to be the ones offering some relief to investors as market confidence has been shaken by the financial sector’s health from UBS Group AG’s take over of Credit Suisse Group AG to the collapse of Silicon Valley Bank.
Tencent Holdings Ltd. is likely to regain some of its swagger, with rising revenue and Ebitda over the intermediate term, as regulatory risk and pandemic concerns in China begin to fade, according to Bloomberg Intelligence. After a two-year industry crackdown, Tencent has secured a green-light for clutch of major game titles and is planning to launch an esports league.