China Tech Stocks Join Broad Rally After Holiday | The China Show 5/6/2026

Watch on YouTube ↗  |  May 06, 2026 at 04:59  |  1:32:28  |  Bloomberg Markets
Speakers
Eva Lee — Head of Greater China Equities, UBS Global Wealth Management
Mark Cranfield — Cross Asset Strategist, Bloomberg
Rick Rieder — CIO of Global Fixed Income at BlackRock

Summary

The China Show covers a broad risk-on rally after a long weekend, led by tech and semiconductors, with Samsung joining the $1 trillion club. Key geopolitical developments include Iran-US de-escalation and the Iranian foreign minister visiting China ahead of Trump-Xi talks. Guests Eva Lee (UBS) and Jason Pang (JPMorgan) present specific investment ideas spanning Chinese domestic chips, insurance, power equipment, bonds, and Malaysian/convertible opportunities.

  • Asian tech shares rally on AMD's upbeat forecast and sustained AI hardware demand.
  • Geopolitical optimism from US-Iran ceasefire progress and Trump's upcoming Beijing visit.
  • Hong Kong posts 5.9% Q1 GDP, fastest in nearly five years, driven by AI exports and property recovery.
  • Eva Lee favors Chinese domestic chips and AI equipment, insurance, power equipment, and government bonds.
  • Jason Pang recommends Malaysian local bonds and Hang Seng convertible bonds for diversification.
  • Market concentration risk in semiconductors noted by several commentators.
  • China's service PMI improved to 52.6 in April, signaling gradual recovery.
  • Taiwan defense budget debate and potential Taiwan issue in Trump-Xi meeting remain under watch.
Trade Ideas
Eva Lee Head of Greater China Equities, UBS Global Wealth Management 17:23
Long domestic chip and AI equipment stocks.
Chinese domestic chip and AI equipment companies will continue to perform well due to cost competitiveness and the DeepSeek catalyst, with performance already 10% below international models but 80-90% cheaper, making them attractive plays.
Chinese domestic chip and AI equipment stocks HIGH
Eva Lee Head of Greater China Equities, UBS Global Wealth Management 19:25
Watch Chinese internet platforms for catalyst.
Chinese internet platforms are still favored as they join US hyperscalers, and improving consumption and property market bottoming are supportive, but investors need to wait one more earnings season for clearer catalysts.
KWEB MED
Eva Lee Head of Greater China Equities, UBS Global Wealth Management 27:49
Long power equipment stocks on exports.
Chinese power equipment stocks benefit from the global AI boom, with companies breaking into international markets and achieving better margins abroad, as evidenced by a recent order from Canada.
Chinese power equipment stocks HIGH
Eva Lee Head of Greater China Equities, UBS Global Wealth Management 28:40
Long Chinese government bonds on rate cuts.
Chinese government bonds should perform better as the People's Bank of China is expected to cut rates twice in the fourth quarter, creating a favorable environment for fixed income.
CBND MED
Eva Lee Head of Greater China Equities, UBS Global Wealth Management 30:50
Watch Macao gaming on tourism recovery.
Macao gaming stocks could improve if domestic tourism continues to recover, as Macao gaming is leveraged to tourist spending.
Macao gaming stocks LOW
Jason Pang 58:57
Long Malaysian local bonds on oil hedge.
Malaysian local government bonds offer good exposure because Malaysia has a natural hedge from being an oil producer and benefits from booming electronic exports, providing a robust economic profile.
Malaysian government bonds (local currency) HIGH
Jason Pang 63:02
Long Hang Seng convertible bonds for upside.
Convertible bonds of Hang Seng-listed companies offer a 1-5% yield and upside potential if positive outcomes emerge from the upcoming US-China talks, making them attractive relative to high yield bonds.
Hang Seng index-linked convertible bonds MED
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This Bloomberg Markets video, published May 06, 2026, features Eva Lee, Jason Pang discussing Chinese domestic chip and AI equipment stocks, KWEB, Chinese power equipment stocks, CBND, Macao gaming stocks, Malaysian government bonds (local currency), Hang Seng index-linked convertible bonds. 7 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Eva Lee, Jason Pang  · Tickers: Chinese domestic chip and AI equipment stocks, KWEB, Chinese power equipment stocks, CBND, Macao gaming stocks, Malaysian government bonds (local currency), Hang Seng index-linked convertible bonds