12 Best Asian Stocks to Buy According to Hedge Funds

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4. PDD Holdings Inc. (NASDAQ:PDD)

Number of Hedge Fund Holders: 65

PDD Holdings Inc. (NASDAQ:PDD) ranks among the best Asian stocks to buy. Following the company’s better-than-expected second-quarter results, BofA Securities boosted its price target for PDD Holdings Inc. (NASDAQ:PDD) to $141 from $120 on August 26, retaining a Neutral rating.

While PDD Holdings’ adjusted net profit surpassed projections by 46%, its revenue was in line with consensus estimates. Despite lower ad monetization at 4.32% compared to 4.42% last year, marketing revenue increased 13% year-over-year, led by a projected 16% gain in gross merchandise value (GMV).

The company’s transaction service revenue climbed by 1% year-on-year, with strong growth from TEMU and Duoduo Grocery balancing considerable drops in China marketplace commissions as the company continued to offer charge reductions through its merchant support program.

PDD Holdings Inc. (NASDAQ:PDD) is a global commerce company that operates several businesses, including two key ventures: Pinduoduo and Temu. Pinduoduo is an e-commerce platform with a wide range of products, whereas Temu is an online marketplace that specializes in heavily discounted consumer goods.

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