Asia Tech Wire (June 7) -- Chinese tech stocks remain attractive amid modest valuations, Citi analysts led by Alicia Yap said in a research note.

Citi noted that more Chinese Internet companies beat first-quarter earnings estimates than fell short of them.

The bank pointed to several key events that could affect investor sentiment and the sector's recent share price performance, including national retail sales data and the upcoming 618 shopping festival.

Citi was bullish on Tencent Holdings (0700.HK) as a core holding, cited Pinduoduo (PDD.O) and Full Truck Alliance (YMM.N) as showing growth trends, and said Meituan (3690.HK) could capitalize on a shift in China's service spending.