China Tech Sell-Off: Opportunity Amidst US Market Turmoil?

• Chinese tech giants experienced a sell-off mirroring US peers, but driven by sentiment spillover and portfolio adjustments, not earnings misses.
• Despite recent declines, mainland Chinese investors poured into Tencent and Alibaba, highlighting a valuation gap and potential for growth.
• Analysts suggest China's tech market is in an early bull phase with attractive valuations, especially in AI and chip sectors, compared to global peers.
• The KraneShares CSI China Internet ETF (KWEB) trades at 16x P/E, while the KraneShares SSE STAR Market 50 Index ETF (KSTR) is at 45x, indicating room for expansion.
• Raffles Family Office increased exposure to China/Hong Kong stocks, citing low expectations, stable earnings, and attractive valuations despite macro softness.