5 Best Asian Stocks To Buy Today

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1. Alibaba Group Holding Limited (NYSE:BABA)

Number of Hedge Fund Holders: 106 

Alibaba Group Holding Limited (NYSE:BABA), through its subsidiaries, provides technology infrastructure and marketing reach to help merchants, brands, retailers, and other businesses. It is one of the premier Chinese stocks to invest in. On September 23, the company announced that it would be investing up to $1 billion over the next three years. Selina Yuan, the Alibaba Cloud Intelligence International President, said that revamped partner strategy prioritizes the growth of the partners. 

On August 8, investment advisory Deutsche Bank maintained a Buy rating on Alibaba Group Holding Limited (NYSE:BABA) stock and raised the price target to $160 from $155. Analyst Leo Chiang issued the ratings update. 

Among the hedge funds being tracked by Insider Monkey, Washington-based investment firm Fisher Asset Management is a leading shareholder in Alibaba Group Holding Limited (NYSE:BABA), with 14 million shares worth more than $1.6 billion. 

In its Q2 2022 investor letter, Baron Funds, an asset management firm, highlighted a few stocks and Alibaba Group Holding Limited (NYSE:BABA) was one of them. Here is what the fund said:

“Alibaba Group Holding Limited(NYSE:BABA) is the largest retailer and e-commerce company in China. Alibaba operates shopping platforms Taobao and Tmall and owns 33% of Ant Group, which operates Alipay, China’s largest third party online payment provider. Shares of Alibaba rose during the quarter, driven by an increasing focus on improving capital allocation, an improving regulatory environment, and government stimulus targeting Chinese consumers. We retain conviction that Alibaba will benefit from rapid growth in cloud services, logistics, and retail.”  

You can also take a peek at 10 Best Healthcare Stocks to Buy According to Billionaire Larry Robbins and 10 Quality Stocks to Buy with Shares Down Over 30% YTD.

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