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<Research>Daiwa Reiterates Positive Outlook on CN Internet Sector; Top Picks TCOM/ TENCENT/ MEITUAN-W/ PDD/ Sea
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45
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Daiwa released a research report highlighting a promising outlook for China's internet sector, but emphasizing that flexibility is still needed. Overseas expansion will remain a key growth driver, while intensifying domestic consumption stimulus measures will be a focus for 2025.

The broker anticipates several potentially significant events, including DiDi's listing in Hong Kong, KE Holdings (BEKE.US)'s dual primary listing, and M&A opportunities.

Related NewsCMBI: CN Internet Sector To Swim Upstream in 2025 w/ Focus on Moats of Mature Biz, Room for New Development, Valuation Enhancement, Overseas Expansion
The broker reiterated its positive view on the sector, with top picks including Trip.com (TCOM.US), TENCENT (00700.HK), MEITUAN-W (03690.HK), Pinduoduo (PDD.US), Full Truck Alliance (YMM.US), and Sea (SE.US).

Under favorable policy conditions, the broker's tactical buy calls were BEKE-W (02423.HK) (BEKE.US) and JD-SW (09618.HK) (JD.US).
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