(Bloomberg) -- U.S.-listed Chinese stocks are bouncing back from this year’s bruising selloff as investors hunt for bargains in Beijing’s tech shake up.
The Nasdaq Golden Dragon China Index is up 12% in October, putting it on track for the best month since June 2020. The benchmark has been hammered by China’s crackdown and is still down 26% in 2021.
Gaming company NetEase Inc. ranks among the top-performers in the index, gaining 18% this month. Baidu Inc. and Alibaba Group Holding Ltd. are also up more than 15% in October.
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More investors are speculating that the worst of Beijing’s changes are over and China’s internet companies are cheap compared with tech stocks elsewhere in the world. There are also signs the government will step up efforts to limit the fallout from Evergrande’s liquidity crisis.
©2021 Bloomberg L.P.
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