🔒 Tencent’s return to top 10 club shows China rebound bets soaring
Tencent’s entry back into the global club of most-valuable companies sparks hope for Chinese equity growth.
Tencent’s entry back into the global club of most-valuable companies sparks hope for Chinese equity growth.
Tencent – the foundation on which Naspers/Prosus shares are valued – has enjoyed its best month in ages, gaining 35% in November so far.
China’s Tencent will dole out more than 958 million Class B stock in Meituan as a special dividend to existing shareholders.
Chinese investors have been scooping up Hong Kong tech stocks for weeks on end, lured by the market’s cheap valuation.
Sean Peche writes that the risks have been “hiding in plain sight” for years, but unfortunately, companies and many fund managers ignored them
Tencent recorded its first-ever revenue drop in the quarter ended June and is expected to report negligible sales growth and a 34% drop in net income, according to analyst estimates.
Another blow for Naspers fans is news that China’s biggest food delivery company, Missfresh, has gone bust.
After a more than $1 trillion selloff, many investors think China’s three largest tech stocks have bottomed out.
Prosus N.V. announced strong revenue growth with profitability in core operations for the year ending 31 March 2022.
Today, Prosus and Naspers announced the start of an open-ended share repurchase programme of Prosus and Naspers shares