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KUAISHOU TECHNOLOGY

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Hong Kong shares end higher on tech, financial rally

07/13/2021 | 04:28am EDT

* Hang Seng index ends up 1.63% China Enterprises index HSCE rises 1.69%

* Tencent rises 3.93% after Sogou deal approved

* HSBC jumps after Bank of England scraps dividend curbs

July 13 (Reuters) - Hong Kong shares rose on Tuesday as high tech and financials stocks rallied, after Chinese regulators approved a deal involving index heavyweight Tencent Holdings and after the Bank of England scrapped dividend curbs on lenders including HSBC.

** At the close of trade, the Hang Seng index was up 448.17 points, or 1.63%, at 27,963.41. The Hang Seng China Enterprises index rose 1.69% to 10,113.32. ** Tech firms in Hong Kong drove gains, with the sub-index of the Hang Seng tracking the IT sector rising 3.3% and the Hang Seng Tech index up 1.94%. ** Tencent Holdings Ltd jumped 3.93% after China's antitrust regulator on Tuesday approved its plan to take the country's no.3 search engine Sogou Inc private in a $3.5 billion deal. ** The financial sector also gained, rising 1.54% with Hong Kong shares of HSBC Holdings Plc ending 2.62% higher after the Bank of England on Tuesday scrapped pandemic-era curbs on dividends from top lenders with immediate effect. ** Sentiment was also bolstered by customs data showing that China's exports grew much faster than expected in June, and import growth also beat expectations. ** The top gainer on the Hang Seng was Geely Automobile Holdings Ltd, which gained 5.18%, while the biggest loser was WuXi Biologics (Cayman) Inc, which fell 3.1%. ** China's main Shanghai Composite index closed up 0.53% at 3,566.52 points, while the blue-chip CSI300 index ended up 0.18%. ** The yuan was quoted at 6.4655 per U.S. dollar, 0.17% firmer than the previous close of 6.4762. ** The top gainers among H-shares were Kuaishou Technology up 5.69%, followed by Geely Automobile Holdings Ltd , gaining 5.18% and Alibaba Group Holding Ltd , up by 3.95%. (Reporting by Andrew Galbraith; Editing by Shailesh Kuber)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
GEELY AUTOMOBILE HOLDINGS LIMITED 2.59% 25.75 End-of-day quote.-2.83%
KUAISHOU TECHNOLOGY 6.22% 100.8 End-of-day quote.0.00%
TENCENT HOLDINGS LIMITED 2.39% 461.8 End-of-day quote.-18.12%
WUXI BIOLOGICS (CAYMAN) INC. 5.76% 123.1 End-of-day quote.19.75%
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Analyst Recommendations on KUAISHOU TECHNOLOGY
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Financials
Sales 2021 81 876 M 12 664 M 12 664 M
Net income 2021 -69 614 M -10 767 M -10 767 M
Net cash 2021 32 591 M 5 041 M 5 041 M
P/E ratio 2021 -4,67x
Yield 2021 -
Capitalization 350 B 54 108 M 54 105 M
EV / Sales 2021 3,87x
EV / Sales 2022 2,97x
Nbr of Employees 21 499
Free-Float 49,4%
Chart KUAISHOU TECHNOLOGY
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Kuaishou Technology Technical Analysis Chart | MarketScreener
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Technical analysis trends KUAISHOU TECHNOLOGY
Short TermMid-TermLong Term
TrendsBullishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 24
Last Close Price 83,75 CNY
Average target price 112,54 CNY
Spread / Average Target 34,4%
EPS Revisions
Managers and Directors
Hua Su Chairman & Chief Executive Officer
Yik Kay Chong Chief Financial Officer
Dingjia Chen Chief Technology Officer
Jia Tong Peng Vice President, Head-Investment & Development
Xuan De Huang Independent Non-Executive Director
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