Mobius says these Chinese tech giants 'could be the foundation of any portfolio' — and analysts expect one of them to rise by 70% over the next 12 months.
Veteran emerging markets investor Mark Mobius has named Alibaba and Tencent as key stocks in any portfolio investing in developing economies. Mobius said the Chinese technology giants "could be the foundation of any portfolio" despite recent volatility. They are "still making good profits," he said, despite the "incredible" decline in their share prices over the past three years.
line Alibaba Mobius, who founded Mobius Capital Partners in 2018 after three decades at Franklin Templeton, said the "interesting aspect" of Alibaba is its potential spin-offs, "which could be very, very good for them." In March, Alibaba said it would split into six business groups , each with the ability to raise outside funding and go public, in the most significant reorganization in the Chinese e-commerce giant's history.
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