5 Best Asian Stocks to Buy Now

2. Coupang, Inc. (NYSE: CPNG)

Number of Hedge Fund Holders: 40 

Coupang, Inc. (NYSE: CPNG) is an e-commerce company based in Seoul, South Korea. It is one of the best Asian stocks to buy now because the e-commerce market is rapidly growing in South Korea and is expected to reach $325 billion in 2025. Coupang, Inc. (NYSE: CPNG) is an Asian substitute for the American e-commerce giant, Amazon.com, inc. (NASDAQ: AMZN), having nearly 24% of South Korea’s e-commerce market share. 

Coupang, Inc. (NYSE: CPNG) generated nearly $12 billion in revenues in 2020, up from $6.2 billion in 2019. The company also managed to reduce its operating loss for the year to $500 million, from $600 million in 2019. Moreover, the CPNG stock has also grown by 9.4% in the past month. Coupang, Inc. (NYSE: CPNG) is trying to get a hold of the international market as well, by expanding its operations to Malaysia, after Japan and Tokyo. Earlier in May, The Bill and Melinda Gates Foundation sold all its stakes in Apple Inc. (NASDAQ: AAPL) and Twitter, Inc. (NYSE: TWTR) and started building its position in Coupang, Inc. (NYSE: CPNG) with 5.7 million shares, worth $220 million. 

As of the end of Q1 2021, 40 hedge funds tracked by Insider Monkey hold stakes in Coupang, Inc. (NYSE: CPNG), worth $21.6 billion.