Kicky : 33 times 12-month projected earnings recht teuer
?EM IT stocks are cheap and undervalued,? Tay said. ?The Asian IT space is broader and deeper at the moment compared to three years ago. The biggest company in China is now an Internet company.?
A transition from hardware manufacturing to the higher-margin business of consultancy and software services boosted the allure of developing-nation technology stocks, Tay said. Tencent posted a 60 percent increase in first-quarter profit as it raked in advertising revenue from its messaging services.
Emerging-market Internet stocks fell 8.5 percent in April as China cracked down on online pornography and U.S. technology shares sank.