Chairman of Alibaba Group Holding Ltd. Jack Ma at the Viva Technology show in Paris, France.
Chesnot | Getty Images News | Getty Images
(This story is for CNBC Pro subscribers nothing but.)
GUANGZHOU, China – China’s two largest technology companies by market capitalization, Tencent and Alibaba, have seen their shares rise in 2020. Analysts say there will be further upside potential next year.
Still, both companies will face some headwinds, including a tougher stance from Chinese regulators towards the country’s tech giants.
Shares of Tencent are up 52% so far this year, while Hong Kong-listed shares of Alibaba are up 20% so far and US-listed stocks are up about 22.7% over the same period.
But it’s not too late to put your money in, say investment analysts who have raised their price targets for both stocks.