đź”’ Tencent rout stokes broader contagion fears; $175bn wiped out this year – The Wall Street Journal
Tencent selloff sparks fears of broader contagion for tech stocks around the world.
Tencent selloff sparks fears of broader contagion for tech stocks around the world.
Tencent’s ubiquitous WeChat app has more than a billion users.
Dawid Krige, whose own money is invested alongside other co-owners of the Cederberg Greater China Equity Fund, has generated an annualised return of 19% from his share picks since its launch 2012.
US investment bank Goldman Sachs released an investment report predicting the continued outperformance of what it calls the FAAMGs (Facebook, Apple, Amazon, Microsoft and Google).
A major feature of the past month has been the US stock market’s growing disdain for erratic news flow from the White House. Investors now appear to be ignoring statements from the Trump Administration.
As Naspers accounts for over 20% of South African equity portfolios, some analysts have raised concerns that the national savings pot is too heavily exposed to a single company.
Since 2012, Naspers has injected a total of $600m into Flipkart. At the price proposed by Walmart, its stake will be worth $3.3bn. What was that about it being a one-trick Tencent pony?
It’s an interesting but nervous time for investors as the street calls are hit or missed, with some buying opportunities on hand. Alec Hogg takes viewers through the Biznews Global portfolio, which held on to its 28% annualised growth.
At the current share price Naspers investors are today paying less than 60c for each $1 in value.
Naspers, frustrated that investors give it no credit for its investments other than a stake in Chinese Internet behemoth Tencent, is considering listing some businesses on the stock market to highlight their value.