Jefferies recommends Chinese internet stocks amid trade war, sees 'long-term value'

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Signage for Alibaba Group is displayed at the company’s offices in Hong Kong, China, on Thursday, May 5, 2016.

Justin Chin | Bloomberg | Getty Images

Jefferies is betting on Chinese internet stocks in the midst of a full-blown trade war between the U.S. and China.

The firm initiated coverage on 25 Chinese stocks, including Alibaba and Tencent, as it feels market expectations have reset on the sector.