China does not want to end up like the US where six tech companies completely dominate the share market and economy. Once you have any company that size economies of sale act as a barrier to entry to others. Amazon is downright scary with its monopoly and not to mention control over low paid employees as well. The US Congress is not going to harm its economy by solving the issue no matter how loud the outcry there as the market would crash its just not a possibility . Particularly not now it is so dependant on these top tech companies come covid havoc. I suspect it never will. I do not know if the big China tech stocks like ALibaba and Tencent were fairly priced but they are obviously going to be cut down to size . I think it was prudent to divest now rather then later. Eventually when China rebalances the space it will provide opportunity again but that is a slow process.
MFG Price at posting:
$43.95 Sentiment: Hold Disclosure: Held
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