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MarketScreener Homepage  >  Equities  >  Stock Exchange of Hong Kong  >  Tencent Holdings Ltd    0700   KYG875721634

TENCENT HOLDINGS LTD (0700)
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Global Stocks Continue to Push Higher -- Update

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01/03/2018 | 04:34am CEST
By Kenan Machado 

Asia-Pacific stocks gained early Wednesday, building on a rally for tech and consumer stocks in the U.S.'s first trading day of 2018.

In China, the CSI 300--made up of the biggest companies in both Shanghai and Shenzhen--climbed 1.2%.

Overnight, the Nasdaq Composite jumped 1.5%, with Apple climbing 1.8%. On Wednesday morning, Samsung Electronics rose 3% shortly after opening, though it was recently 1.2% higher. The Kospi index gained 0.3%.

The Taiex in Taiwan, where many Apple suppliers are based, climbed 0.7% to hit a fresh five-week high; index heavyweight Taiwan Semiconductor Manufacturing climbed 2.2%.

Tech stocks also helped push Hong Kong's Hang Seng Index to another 10-year high; it rose 0.4%. Tencent Holdings, Sunny Optical Technology and AAC Technologies Holdings all rose about 2% Wednesday morning.

"There is a lot of anticipation that earnings will increase" for the sector, said Shane Chanel, an equities adviser at ASR Wealth Advisers. But he cautioned that any misstep could burst the market's bubble.

Indexes in New Zealand and the Philippines set all-time records on Wednesday.

Despite strength for large mining companies BHP Billiton and Rio Tinto, the S&P/ASX 200 was just 0.1% higher, due to declines in consumer and health-care stocks.

The U.S. dollar, which on Tuesday logged its largest drop in four years, as the WSJ Dollar Index fell for a seventh-straight session. It was recently up 0.1%.

And Bitcoin has managed to stay above $15,000, according to price data from CoinDesk.

Write to Kenan Machado at kenan.machado@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
DJ INDUSTRIAL -1.35% 25354.6 Delayed Quote.2.15%
HANG SENG -0.05% 25402.97 Real-time Quote.-13.76%
KOSPI COMPOSITE INDEX -0.82% 2148.62 Real-time Quote.-12.16%
NASDAQ 100 -2.26% 7126.4756 Delayed Quote.11.89%
NASDAQ COMP. -2.04% 7491.8465 Delayed Quote.8.60%
S&P 500 -0.03% 2809.21 Real-time Quote.3.50%
S&P/ASX 200 0.06% 5942.4 Real-time Quote.-2.79%
TENCENT HOLDINGS LTD -0.28% 280.6 End-of-day quote.-31.19%
US DOLLAR INDEX 0.27% 95.84 End-of-day quote.4.34%
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Financials (CNY)
Sales 2018 320 B
EBIT 2018 95 208 M
Net income 2018 81 851 M
Finance 2018 58 714 M
Yield 2018 0,38%
P/E ratio 2018 29,28
P/E ratio 2019 23,87
EV / Sales 2018 7,23x
EV / Sales 2019 5,29x
Capitalization 2 375 B
Chart TENCENT HOLDINGS LTD
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Technical analysis trends TENCENT HOLDINGS LTD
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Mean consensus OUTPERFORM
Number of Analysts 43
Average target price 383  CNY
Spread / Average Target 54%
EPS Revisions
Managers
NameTitle
Hua Teng Ma Chairman & Chief Executive Officer
Chi Ping Lau President & Executive Director
Yu Xin Ren COO & President-Interactive Entertainment Group
Shek Hon Lo Chief Financial Officer & Senior Vice President
Chen Ye Xu Chief Information Officer
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