After years of outperforming their U.S. counterparts, Chinese stocks have been hard hit with a wave of sell-offs in 2018. While investors have been dumping Asian equities out of fear of economic deceleration in one of the recent years' fastest growing economies. Amid threats of a full-blown trade war with the U.S., some analysts view certain stocks within the group as oversold, presenting attractive buy opportunities for bargain hunters. 

Chinese Casino Operator to 'Outgrow Entire Macao Gaming Sector

"China is a wild card here because they’re right in the eye of the storm when it comes to trade talks," said Saira Malik, head of global equities at Nuveen. The market watcher recommends that investors look for Chinese companies set to benefit from a boost in consumer spending, supported by Shanghai's aggressive fiscal stimulus. 

Malik recommends casino operator Melco Resorts & Entertainment (MLCO), which is expected to benefit from continued strength in demand, particularly as it opens new casinos to cater to high-end consumers in China and beyond. 

"We think Melco will outgrow the entire Macao gaming sector," she noted. The Hong Kong-based company trades at 20 times earnings, while boasting a solid 3.6% dividend and executing stock repurchases. 

Market Watchers Eye 'Semiconductor Arms Dealer,' China's Answer to Grubhub

Within the tech space, Tom Hancock, portfolio manager of the $6.8 billion GMO Quality Fund, points to semiconductor manufacturer Taiwan Semiconductor Manufacturing (TSM) as a safe bet, even if trade tensions continue to escalate. He notes that TSMC, which manufactures but does not design, graphics processing chips for companies like Nvidia Corp. (NVDA) and Apple Inc. (AAPL) is set to benefit from both Chinese and American clients. According to Hancock, Taiwan Semiconductor Manufacturing is more diversified as a broad supplier than the chip makers themselves. Hancock calls TSMC the "arms dealer to the semiconductor industry," positioned to ride the growth of industries like artificial intellgience, smartphones, and cryptocurrency mining while trading at just 17 times earnings.

On-demand food delivery platform Meituan Dianping (HKG), Grubhub Inc.'s (GRUB) Chinese counterpart, is poised to gain on a widespread shift in consumer behavior, argues Tom Slate of Baillie Gifford. The Beijing-based company, which hit the public market in Hong Kong this September, reports a whopping 310 million active users on its app, compared to Grubhub's 15 million.

"I don’t share this widespread pessimism about China, but even if you subscribe to that, I would suggest that these changes in behavior are absolutely much more powerful than any cyclical swings in GDP," Slate wrote.