Foreign stocks: China tech outperforms US tech
BYD, Xiaomi, Alibaba - some Chinese shares are among the best-selling in foreign share trading. And they are also doing very well. US tech stocks also continue to see a lot of turnover. Analysts see overvaluations, but also potential.
27. March 2025 FRANKFURT (Börse Frankfurt). It is still mostly about the well-known US tech stocks in foreign share trading on the Frankfurt Stock Exchange. In addition to these and Novo-Nordisk, which always generates strong turnover, the top 15 now also includes some Chinese names, specifically BYD, Xiaomi, Alibaba (US01609W1027) and Geely Autos (KYG3777B1032). Unlike US stocks, these are also doing very well, with share prices at all-time or multi-year highs. US tech stocks, on the other hand, are trading well below their recent record highs, with Nvidia (US67066G1040) down 30 percent and Tesla (US88160R1014) down as much as 46 percent.
BYD and Xiaomi on record course
China's car manufacturer BYD (CNE100000296) continues to rise, with the share price doubling since March 2024. The figures for 2024 published on Monday were also well received: BYD (“Built your dreams”) generated a turnover of the equivalent of 100 billion euros. “With a global market share of 33% for pure e-cars and hybrid vehicles, BYD is the leader in electromobility and has now also overtaken Tesla in terms of sales,” explains Torsten Tiedt from the stock platform aktienfinder.net. He sees the fair value at the end of 2025 at 472 Hong Kong dollars (currently 407).
The share price of Xiaomi (KYG9830T1067) has more than tripled since March 2024. The smartphone manufacturer also produces e-cars and plans to deliver 350,000 vehicles this year, as Tiedt explains. “According to analysts, the successful entry into e-car production should lead to dynamic sales growth of over 20% in the next two years and, with positive margins, also contribute to profits.” However, he sees the fair value of the Xiaomi share at the end of 2025 at only 42 Hong Kong dollars (currently 51.7) and considers the share to be overvalued with a P/E ratio of 52. “In addition, the value is diluted by capital increases.”
Torsten Tiedt
“Novo-Nordisk share price slump as an opportunity”
For a long time now, Novo-Nordisk (DK0062498333), a supplier of syringes, has been a heavily traded stock. However, the share price has halved since last summer. According to Tiedt, the share was massively overvalued. However, the long-term success story is intact - despite the challenges posed by competitor Eli Lilly and a US healthcare system fixated on savings. He cites 665 Danish kroner (currently 490) as the fair value at the end of the year. “The current correction is an opportunity for a favorable entry into a promising quality share.”
“Coca-Cola as a long-term investment, BAT with high growth”
Not in the top 15, but still in the top 40 are beverage giant Coca-Cola and tobacco group BAT. For Jonathan Neuscheler from the equity research and financial education platform abilitato (abilitato.de), Coca-Cola is a timeless and crisis-tested company that impresses with its combination of high cash generation and respectable growth rates. “The cash flow has been flowing reliably for decades under all conditions such as inflation, recession, lockdowns, etc.,” he explains. This is why Coca-Cola has been able to raise its dividend every year for 62 years. “The stock is not a bargain, but its reliability makes it a good long-term buy-and-hold investment.”
BAT, “one of the cheapest blue chip stocks on the market”, is also interesting according to Neuscheler. “The nicotine industry is not a shrinking business. The switch to reduced-risk products will enable higher growth rates in the future,” he explains. The British group, the world's number two since the takeover of US group Reynolds in 2017, generates very high cash flows. “BAT benefits from the fact that smokeless products are even more profitable than the cigarette business,” he notes.
Still opportunities with Alphabet?
However, Nvidia still has the highest turnover. Tesla, Palantir, Amazon, Microsoft, Alphabet, Apple, Palo Alto Networks, MicroStrategy and Super Micro are also heavily traded. Tiedt still considers Alphabet (US02079K3059) to be cheaply valued. However, he cites two risks: firstly, the high investments in data centers and secondly, the fact that Alphabet still generates 87 percent of its revenue from advertising. However, search is shifting towards direct communication with AI. “Anyone who is not put off by these risk scenarios can consider buying the shares. If all goes well, we see a potential return of almost 20 percent by the end of the year.”
by Anna-Maria Borse, 27 March 2025, © Deutsche Börse
About the Author
Anna-Maria Borse is a financial and business editor specializing in the financial market/stock exchange and economic topics.
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