$KUAISHOU-W(01024.HK) and $JD.com(JD.US) both fell slightly. These two China concept internet stocks followed the weakness of Hong Kong tech stocks in a pullback. There's no new company-specific news; it's more about overall market sentiment and the discount on China concepts weighing them down. The fundamentals of e-commerce and short video haven't changed. In this kind of market for China concepts, sector beta is much more important than individual stock alpha. Even the leaders can't escape when the broader market is unstable 😔
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