UBS downgrades China’s tech sector, citing rally-driven revaluation and tariff risks
UBS has lowered its rating on China’s technology sector from Attractive to Neutral, following a strong year-to-date gain of 32%. In a note to clients, the bank attributed the sector’s rally to growing enthusiasm around China’s recent advancements in artificial intelligence and the government’s emphasis on AI development at the National People’s Congress. However, UBS…