JPMorgan has upgraded its outlook on emerging market (EM) equities as of May 19, 2025. Despite recent earnings reports from major Chinese technology companies Tencent and Alibaba failing to generate strong investor enthusiasm, JPMorgan views the recent weakness in these stocks as a potential buying opportunity. The bank highlights the benefits of diversifying investment portfolios away from heavily concentrated US technology positions. This upgrade includes ETFs such as EEM and KWEB, reflecting JPMorgan's positive stance on EM equities amid current market conditions.