China Tech Stocks Defy Asia Selloff | The China Show 6/2/2026

Watch on YouTube ↗  |  June 02, 2026 at 06:59  |  1:32:45  |  Bloomberg Markets
Speakers
Alicia Yap — Founder, RedCaviar
Anthony Stevens — Bloomberg Market Producer
David Ingles — Anchor, Bloomberg
Louisa Fok — China Equities Strategist, Bank of Singapore

Summary

The episode covers a mixed Asia session with China tech stocks rallying on Meituan earnings and Tencent's AI agent news. Key discussions include easing competition in food delivery, AI investment themes from Computex, and macro trends in Chinese bonds and currency. Analyst Alicia Yap outlines bullish theses on Meituan, MiniMax, and Tencent.

  • Meituan shares surge after earnings show narrowing losses and easing price war.
  • Nvidia announces new PC chip at Computex, lifting ARM, MediaTek, and other partners.
  • Alphabet raises $80B in equity, including $30B from Berkshire, for AI capex.
  • Tencent moves closer to launching an AI agent for WeChat, boosting tech sentiment.
  • Chinese bond yields are near 1.69% on strong domestic demand and safe-haven flows.
  • Alicia Yap from Citi is bullish on Meituan, MiniMax, and Tencent with specific catalysts.
  • Discussion on AI and jobs: Chinese government worries about displacement but courts rule against firing for AI replacement.
Trade Ideas
Alicia Yap Founder, RedCaviar 17:01
Competition easing, margins improving, target 113.
Meituan's earnings beat expectations as competition from Alibaba and JD scales back subsidies. Delivery margins are stabilizing around mid-20%, and the unit loss per order is narrowing. Management implies delivery could break even in Q2. The improved subsidy environment, higher average order value, and market share gains support profitability improvement. Citi has a target price of 113, implying substantial upside from current levels.
Meituan HIGH
Alicia Yap Founder, RedCaviar 21:52
Valuation attractive, buy recommended.
Tencent is attractively valued when excluding its investment portfolio and cash. Despite debates about its AI strategy, the underlying valuation is compelling. Citi has a buy recommendation.
TCEHY LOW
Alicia Yap Founder, RedCaviar 26:04
Model launch drives revenue growth.
MiniMax is a Chinese AI foundation model company. The launch of M3, a model with architectural breakthrough and multimodal agentic capabilities, is expected to drive strong revenue growth. The company previously guided 150 million revenue and the M3 should accelerate adoption and spending. Citi has a buy recommendation.
MiniMax MED
Up Next
3:40
Ethiopia's Incumbent Leader Expected to Win Elections
Bloomberg Markets · Jun 02
23:05
[Emergency Market Update] Today, already a 7 trillion won sell-off causing a sharp decline... Have foreigners abandoned the Korean stock market? "The real reason for the massive sell-off" | Park Geun-hyung, Department Head
815 Money Talk (815머니톡) · Jun 02
7:04
Job Cuts or Job Change? AI Debate Heats Up
Bloomberg Markets · Jun 02
1:34:55
Asian Markets Weigh Iran Risk, AI Rally | The Asia Trade 6/2/2026
Bloomberg Markets · Jun 02
3:20
Steph Curry Signs Deal With Chinese Sportswear Giant
Bloomberg Markets · Jun 02

This Bloomberg Markets video, published June 02, 2026, features Alicia Yap discussing Meituan, TCEHY, MiniMax. 3 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Alicia Yap  · Tickers: Meituan, TCEHY, MiniMax