Daiwa released a research report stating that many investors focused on investing in Asian markets were recently met in the United States. After integration, the bank found that American investors generally bullish on Tencent, most of whom gave “buy” or “shareholding” ratings and looked forward to more catalysts to further promote its stock price outperforming the market, such as improved game business performance, strong advertising business growth, and continued shareholder returns, etc. Investors are also bullish on PDD Holdings and unanimously give “buy” rating, and also tend to choose Ctrip, Ke Holdings, and Meituan.

Daiwa pointed out that Ctrip's international business development did not seem to be recognized by investors, but Daiwa expects that the business can bring long-term sustainable growth momentum to the company. As for NetEase, which the bank is bullish on, its popularity is not as good as other stocks. Daiwa's first choice of stocks is Tencent and Ctrip, followed by NetEase, PDD Holdings, Meituan, and Ke Holdings, all of which are rated "buy".