JP Morgan: Why We Sold Off Alibaba

JP Morgan's Asia Pacific chief investment officer says China is a global leader when it comes to technology, but his team has sold off Alibaba and Tencent in recent months

Emma Wall 10 April, 2018 | 6:50AM
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Tencent is a global dominator in technology tech stocks asian equities emerging markets

“It is incredible that anyone in the US still uses cheques,” says JP Morgan chief investment officer Richard Titherington. “No one in China does. Asia’s innovation in online payments is streets ahead of the US, and the investment in artificial intelligence and machine learning is far greater than the West.”

In the seven technology sub-sectors; gaming, automation, processors, electronics, social media, microblogging and e-commerce, Titherington argues that Asian stocks have far outpaced their developed market – US, Japan and Europe listed – rivals over the past decade.

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Emma Wall  is former Senior International Editor for Morningstar