5 Best Asian Stocks To Buy Today

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In this article, we discuss 5 best Asian stocks to buy today. If you want to read about some more Asian stocks, go directly to 12 Best Asian Stocks To Buy Today.

5. Pinduoduo Inc. (NASDAQ:PDD)

Number of Hedge Fund Holders: 41 

Pinduoduo Inc. (NASDAQ:PDD) operates an e-commerce platform in the People’s Republic of China. It is one of the top Chinese stocks to invest in. The stock has gained in the past few weeks on the back of strong earnings and sales numbers that suggest that consumer strength is growing in the Asian country. The recovery in consumer sentiment in China is being attributed to the easing of COVID-19 lockdowns across the country. An upcoming shopping festival is set to boost this sentiment further. 

On September 9, investment advisory Barclays maintained an Equal Weight rating on Pinduoduo Inc. (NASDAQ:PDD) stock and raised the price target to $66 from $45. Analyst Jiong Shao issued the ratings update. 

Among the hedge funds being tracked by Insider Monkey, Florida-based investment firm GQG Partners is a leading shareholder in Pinduoduo Inc. (NASDAQ:PDD), with 6.1 million shares worth more than $380.8 million. 

In its Q4 2021 investor letter, Tao Value, an asset management firm, highlighted a few stocks and Pinduoduo Inc. (NASDAQ:PDD) was one of them. Here is what the fund said:

“On the detracting side, one of our largest detractors includes Pinduoduo (ticker: PDD). Pinduoduo (PDD) reported the second consecutive GAAP profit quarter yet missed on the revenue due to nation-wide consumption weakness & scaled back Sales & Marketing efforts. Market disliked it and the stock price plunged on the earnings. In my opinion, the accounting profits proved the original thesis of using S&M to acquire users and using great shopping experience to keep them. After realizing the first growth curve, Pinduoduo now shifted its focus & investment to agriculture. It is still very early, but the reduced size due to price drop warrants a position to watch and continue to grow with such a team with a strong culture.”  

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