How well did China’s big tech perform in pivotal quarter? [Video]

Ipek Ozkardeskaya Swissquote Bank Ltd

The news of fresh deals is coming in from the Middle East as Donald Trump seems very successful in getting the oil- and gas-rich countries to buy stuff from the US – including chips and planes – but appetite for trade optimism is starting to show signs of exhaustion. Despite the announcement of a $243bn deal with Qatar on top of the $600bn deal with Saudi Arabia, the S&P500 traded flat on Wednesday.

In China, Tencent announced slightly better-than-expected revenue in Q1. Its net profit grew 82% compared to the same period last year – but still fell short of analyst expectations and Alibaba will announce its own results later today, and the focus will be on AI and cloud revenues. Note that the Chinese AI story is developing and the Chinese Tech companies’ valuations remain cheaper than the US peers.

Author

Ipek Ozkardeskaya

Swissquote Bank Ltd

Ipek Ozkardeskaya began her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked in HSBC Private Bank in Geneva in relation to high and ultra-high-net-worth clients.

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