The one major theme catching our attention this week is we prefer the value in Asian tech when compared to its US peers although we do expect both to bounce in the coming weeks with tonight’s Fed rate hike potentially the catalyst for investors to finally move on from their bearish skew towards growth stocks – one that does make sense medium / longer term. Hence we are looking to lighten our US tech exposure into strength while considering increasing our Asian exposure at current levels, the move looks timely as they gain traction after being hammered over the last 12-months.
In line with that view, we think JD.com can easily bounce another 20% from current levels and hence we are considering increasing our exposure from 5% to 7%.
MM is looking for 20-25% upside from JD in coming weeks/months
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