China Internet Stocks
Top 10 of 44 KWEB holdings, updated
As of 12 October 2026, china internet stocks are trailing the S&P 500, over the past month and over the longer run. KWEB trails the S&P 500 by 1.4 points over one month and ranks #31 of 115 groups Zensei tracks. 7 of the 11 china internet stocks Zensei prices in KWEB beat the fund this month.
Where china internet stocks stand now
As of 12 October 2026, China Internet (KWEB) ranks #31 of the 115 groups Zensei tracks by one-month return against the S&P 500. It is out of favor: it trails the S&P 500 on both rotation windows — 1.4 points behind over the past month and 8.2 points behind over the longer, time-shifted window. That is the Underperformers quadrant.
On the shorter tape, KWEB's momentum is weakening: the intraday trend that carried the move is cooling across the shorter windows. KWEB's relative-strength line has broken below its long-term average — the long-term outperformance trend is no longer intact. Both signals point the same direction here: the market is not rewarding this group on either horizon.
The exposure comes via KraneShares CSI China Internet ETF, whose 44 tracked holdings are led by Tencent Holdings Ltd, Alibaba Group Holding Ltd and PDD Holdings Inc. The thing to watch from here is the one-month spread: underperformers only become interesting when the recent window turns positive first — until then, the market is voting elsewhere.
As of , these are the largest china internet stocks in KWEB by fund weight, and the strongest over the past month. Size and recent return are measurements, not recommendations.
Top china internet stocks by fund weight
Ranked by largest share of KWEB
- 1Tencent Holdings Ltd10.3%
- 2Alibaba Group Holding Ltd8.7%
- 3PDD Holdings IncPDD8.2%
- 4Meituan6.9%
- 5Netease Inc6.4%
Best china internet stocks this month
Ranked by one-month return, among the holdings Zensei prices
- 1Joyy IncJOYY+8.4%
- 2TAL Education GroupTAL+7.7%
- 3Tencent Music Entertainment GroupTME+5.8%
- 4Full Truck Alliance Co LtdYMM+5.6%
- 5PDD Holdings IncPDD+4.0%
China Internet Stocks vs the S&P 500
Over the week to 12 October 2026, KWEB rose 0.8% while the S&P 500 rose 0.4%. The table compares KWEB and SPY (the S&P 500) over every window Zensei tracks. The spread is the difference: positive means KWEB won that window.
Prices as of · computed from daily adjusted closes · how we measure
China Internet on the rotation map, against the 11 broad S&P 500 sectors. Vertical: 1-month spread vs the S&P 500. Horizontal: the longer, time-shifted window.
Are china internet stocks expensive?
Under half of the weight in KWEB has a positive P/E, so a fund P/E would not describe the fund. Zensei shows a fund P/E from 50% coverage. Compare with every sector and theme: P/E ratio by sector.
KWEB holdings: the china internet stocks inside
This list covers all 44 china internet stocks in KWEB, heaviest first; the 10 largest show their returns where Zensei has a price. As of 12 October 2026, 7 of the 11 china internet stocks Zensei prices in KWEB beat the fund over the past month. 6 of them beat the S&P 500. The strongest is Joyy Inc (JOYY); the weakest is Qfin Holdings Inc (QFIN). Inside the fund, one or two outliers drive most of the move.
| # | Holding | Weight | 1M | 3M | vs fund 1M | Momentum | RS health |
|---|---|---|---|---|---|---|---|
| 1 | Tencent Holdings Ltd | 10.3% | — | — | No price data | ||
| 2 | Alibaba Group Holding Ltd | 8.7% | — | — | No price data | ||
| 3 | PDDPDD Holdings Inc | 8.2% | +4.0% | −4.3% | +3.3 pts | Accelerating | Strong |
| 4 | Meituan | 6.9% | — | — | No price data | ||
| 5 | Netease Inc | 6.4% | — | — | No price data | ||
| 6 | Lenovo Group Ltd | 6.4% | — | — | No price data | ||
| 7 | KE Holdings Inc | 4.3% | — | — | No price data | ||
| 8 | Jd.Com Inc | 3.9% | — | — | No price data | ||
| 9 | Trip.Com Group Ltd | 3.4% | — | — | No price data | ||
| 10 | Baidu Inc | 3.2% | — | — | No price data | ||
All 44 KWEB holdings by weight: Tencent Holdings Ltd 10.3%, Alibaba Group Holding Ltd 8.7%, PDD Holdings Inc (PDD) 8.2%, Meituan 6.9%, Netease Inc 6.4%, Lenovo Group Ltd 6.4%, KE Holdings Inc 4.3%, Jd.Com Inc 3.9%, Trip.Com Group Ltd 3.4%, Baidu Inc 3.2%, Full Truck Alliance Co Ltd (YMM) 3.0%, Kuaishou Technology 3.0%, Kanzhun Ltd (BZ) 2.5%, TAL Education Group (TAL) 2.5%, JD Health International Inc 2.5%, Sensetime Group Inc 2.3%, Tencent Music Entertainment Group (TME) 2.1%, Bilibili Inc 2.1%, GDS Holdings Ltd 1.6%, Vipshop Holdings Ltd (VIPS) 1.6%, Kingsoft Corp Ltd 1.5%, Kingdee International Software Group Co Ltd 1.4%, Joyy Inc (JOYY) 1.0%, Alibaba Health Information Technology Ltd 1.0%, China Ruyi Holdings Ltd 0.9%, Tongcheng Travel Holdings Ltd 0.7%, Vnet Group Inc (VNET) 0.7%, Meitu Inc Registered SHS Unitary 144a/Reg S 0.7%, East BUY Holding Ltd 0.7%, Zhongan Online P&C Insurance Co Ltd 0.6%, Kingsoft Cloud Holdings Ltd 0.6%, Autohome Inc (ATHM) 0.6%, Z.Ai Co Ltd 0.6%, XD Inc 0.6%, China Literature Ltd 0.5%, Netease Cloud Music Inc 0.4%, Ping AN Healthcare and Technology Co Ltd 0.4%, Damai Entertainment Holdings Ltd 0.3%, Shanghai Iluvatar Corex Semiconductor Co Ltd 0.3%, Qfin Holdings Inc (QFIN) 0.3%, Weibo Corp (WB) 0.3%, Shanghai Biren Technology Co Ltd 0.3%, Innoscience (Suzhou) Technology Holding Co Ltd 0.2%, Minimax Group Inc 0.1%.
China Internet Stocks: common questions
China internet stocks list: which stocks are in KWEB?
As of 12 October 2026, KWEB holds 44 china internet stocks, and this page lists all 44. The three largest by fund weight are Tencent Holdings Ltd (10.3%), Alibaba Group Holding Ltd (8.7%) and PDD Holdings Inc (PDD, 8.2%). Each one shows its fund weight; the 10 largest also show their one-month and three-month returns where Zensei has a price.
What are the best china internet stocks this month?
As of 12 October 2026, ranked by one-month return, the three strongest china internet stocks in KWEB are Joyy Inc (JOYY, +8.4%), TAL Education Group (TAL, +7.7%) and Tencent Music Entertainment Group (TME, +5.8%). This ranks past return only; it does not forecast the next month.
What are the top 3 china internet stocks?
As of 12 October 2026, the three largest china internet stocks in KWEB by fund weight are Tencent Holdings Ltd (10.3%), Alibaba Group Holding Ltd (8.7%) and PDD Holdings Inc (PDD, 8.2%). Fund weight shows size inside the fund, not a recommendation.
Which china internet stocks are beating the sector?
As of 12 October 2026, 7 of the 11 china internet stocks Zensei prices in KWEB beat the fund over the past month. The strongest over the past month is Joyy Inc (JOYY). The table above shows the largest holdings with their weights and returns.
Which ETF holds china internet stocks?
Several ETFs hold china internet stocks. Zensei tracks the group through KWEB, the KraneShares CSI China Internet ETF. As of 12 October 2026, its published holdings list 44 china internet stocks, and the 10 largest make up 61.9% of the fund.
Are china internet stocks outperforming the S&P 500?
No. As of 12 October 2026, KWEB trails the S&P 500 by 1.4 points over the past month.
What is KWEB?
KWEB is KraneShares CSI China Internet ETF. Zensei uses it to measure china internet stocks against the S&P 500 (SPY).
What stocks does KWEB own?
As of 12 October 2026, the largest of the 44 positions Zensei tracks in KWEB are Tencent Holdings Ltd, Alibaba Group Holding Ltd, PDD Holdings Inc, Meituan, Netease Inc. Each position measured against the fund, with momentum and relative strength, is part of Zensei Premium.
What quadrant is china internet in right now?
As of 12 October 2026, china internet is in the Underperformers quadrant — trailing the S&P 500 on both windows. The Zensei methodology page explains the quadrants.
Recent changes
- ·Losing ground → trailing the market
- ·First tracked: losing ground
Related sectors
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