Daiwa Securities published a research report stating that it recently met with many investors in the United States and found that many of them focused on investing in Asian markets. At present, the weight of their investment in China is roughly the same, and compared with global and international funds, they still hold a relatively cautious view of investing in China.

After integrating, the bank found that American investors generally have a bullish outlook on Tencent (00700.HK), with most giving a buy or shareholding rating and anticipating more catalysts to further drive its stock price outperforming the market, such as improved performance in the gaming business, strong growth in the advertising business, and continued shareholder returns.

The bank also noted that investors are bullish on PDD Holdings (PDD.US) and unanimously give it a 'buy' rating. They also prefer to choose Ctrip (09961.HK)(TCOM.US), Ke Holdings (02423.HK)(BEKE.US) and Meituan (03690.HK). Daiwa Securities pointed out that Ctrip's international business development seems to have not been recognized by investors, and they expect the business to bring long-term sustainable growth to the company. As for Netease (09999.HK)(NTES.US), which the bank is bullish on, its popularity is not as high as other stocks.

The bank's top picks are Tencent and Ctrip, followed by Netease, PDD Holdings, Meituan and Ke Holdings, all given a 'buy' rating. For the latest target prices and investment ratings of internet stocks, please refer to the attached table.