A year-long regulatory crackdown on Chinese internet-platform operators has created opportunities for global investors to pick up stocks at the cheapest valuation in years, according to Lombard Odier Investment Managers. The money manager sees the likes of Alibaba Group Holding, Tencent Holdings and Kuaishou Technology among likely winners as growth in online advertising revenue remains firm despite a slowdown in the world’s second-largest economy. “Digital media in China is more in demand than anywhere else,” said Odile Lange-Broussy, who is the co-head of Asian and emerging markets equities based in Singapore. “Brands want to establish recognition and you need to...