Chinese technology stocks and related ETFs could outperform as Chinese firms with greater overseas businesses and foreign-currency assets benefit from the ongoing yuan depreciation.

Kinger Lau, Hong Kong-based chief China equity strategist at Goldman Sachs, argued that China’s tech sector could profit the most from a depreciating yuan since over 35% of the company revenues are generated from overseas markets, Bloomberg reports.

The Chinese yuan has been depreciating as the U.S. dollar strengthened over the past week in response to a Donald Trump presidency. The U.S. dollar has already strengthened 1.3% against the Chinese yuan to from CNY6.8804 from CNY6.787 since the November 8 election.

“Our conviction for firms with foreign-currency financial assets to outperform is even higher after Trump’s election victory, as our conviction to expect a weaker currency is stronger,” Lau told Bloomberg. “The Trump presidency means some pure exporters could have a little bit of difficulty to outperform because of the trade concerns in the short term.”

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Investors interested in gaining targeted exposure to Chinese technology companies have a number of options available, including the KraneShares CSI China Internet Fund (NasdaqGM: KWEB), Guggenheim China Technology ETF (NYSEArca: CQQQ), Global X NASDAQ China Technology ETF (NasdaqGM: QQQC) and Emerging Markets Internet & Ecommerce ETF (NYSEArca: EMQQ).

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