Log in
Log in
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
Sign up
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
  1. Homepage
  2. Equities
  3. Hong Kong
  4. Hong Kong Stock Exchange
  5. Tencent Holdings Limited
  6. News
  7. Summary
    700   KYG875721634

TENCENT HOLDINGS LIMITED

(700)
  Report
Delayed Hong Kong Stock Exchange  -  04:09 2022-09-29 am EDT
270.60 HKD   -1.24%
09/28U.S. boutique bank Raine expands in Southeast Asia, bets on media and tech
RE
09/28Italy's Satispay valued at over 1 billion euro after raising 320 million euros
RE
09/27Factbox-Companies cut jobs, freeze hiring to prepare for economic slowdown
RE
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisionsFunds 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

China, Hong Kong stocks fall on dimming growth prospects

08/18/2022 | 01:18am EDT

SHANGHAI, Aug 18 (Reuters) - China and Hong Kong stocks fell on Thursday, hit by increasingly grim growth prospects for the world's second-largest economy suffering from COVID-19 outbreaks, a property crisis, a record heat wave and limited room for monetary easing.

** China's blue-chip CSI300 Index dropped 0.9%, while the Shanghai Composite Index lost 0.5%. Hong Kong's Hang Seng benchmark fell 0.6%.

** Nomura lowered its China economic growth forecast, citing dismal July activity data, the lingering impact from the pandemic, and the worst heave wave in six decades.

** "(The) policy response might be too little, too late and too inefficient," said Nomura, which slashed China's growth forecast to 2.9% for the third quarter, from 4.0%. 2023 GDP forecast is also lowered, to 5.1%, from 5.5%, and Nomura expects "a new round of cuts" in coming weeks by other brokerages.

** "Virus outbreaks are happening with increasing frequency. The housing market remains in a downward spiral. And exports look set to drop back before long," wrote Julian Evans-Pritchard, senior China Economist at Capital Economics.

** "More support is on its way but it will probably be too late too little to prevent output from stagnating this year."

** Also, China's central bank faces limited room to manoeuvre due to worries over rising inflation and capital flight, policy insiders and analysts said.

** U.S. Federal Reserve officials steeled themselves to force the economy to slow down with more rate hikes to fight inflation, according to the minutes of the latest policy meeting.

** Increasing divergence in Sino-U.S. monetary policies could trigger capital flight out of China.

** Most sectors in China fell, but the start-up board ChiNext rose 0.2%, while the tech-heavy STAR 50 Index gained 1%.

** EVE Energy Co jumped 3%, after Reuters reported that the Chinese battery maker will supply BMW with large cylindrical batteries for its electric cars in Europe.

** Hong Kong's Hang Seng Tech Index fell 0.9%, but Tencent rose 3.1%, after the Chinese tech giant promised a return to growth, following its first-ever quarterly sales drop. (Reporting by Shanghai Newsroom; Editing by Rashmi Aich)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
BMW AG -3.42% 69.13 Delayed Quote.-19.11%
EVE ENERGY CO., LTD. -0.52% 87.18 End-of-day quote.-26.23%
EVE HOLDING, INC. -7.67% 10.175 Delayed Quote.0.00%
NOMURA CO., LTD. 3.01% 924 Delayed Quote.-5.88%
NOMURA CORPORATION 3.62% 1089 Delayed Quote.24.32%
S&P/CITIC 300 INDEX -0.01% 3504.45 Real-time Quote.-21.95%
S&P/CITIC 50 INDEX -0.08% 3398.65 Real-time Quote.-18.94%
TENCENT HOLDINGS LIMITED -1.24% 270.6 Delayed Quote.-40.02%
All news about TENCENT HOLDINGS LIMITED
09/28U.S. boutique bank Raine expands in Southeast Asia, bets on media and tech
RE
09/28Italy's Satispay valued at over 1 billion euro after raising 320 million euros
RE
09/27Factbox-Companies cut jobs, freeze hiring to prepare for economic slowdown
RE
09/27China stocks rebound as consumer, tourism shares rise
RE
09/26Morgan Stanley Dealmakers Justin Yek, Yuen Dezhao to Depart for Airwallex, Actis
MT
09/25Tencent’s Games Continue to Top Global Revenue Ranking in August
MT
09/23BAIOO Proposes Agreement Renewal on Shiwuyu Game
MT
09/23China stocks fall on foreign outflow concerns, geopolitical risks
RE
09/23China stocks fall on foreign outflow concerns, COVID woes
RE
09/21Tencent Refutes Reported Plan to Cut Investments to Fund Share Repurchase
MT
More news
Analyst Recommendations on TENCENT HOLDINGS LIMITED
More recommendations
Financials
Sales 2022 568 B 79 782 M 79 782 M
Net income 2022 101 B 14 219 M 14 219 M
Net cash 2022 76 897 M 10 799 M 10 799 M
P/E ratio 2022 23,0x
Yield 2022 0,41%
Capitalization 2 314 B 325 B 325 B
EV / Sales 2022 3,94x
EV / Sales 2023 3,32x
Nbr of Employees 110 715
Free-Float 63,2%
Chart TENCENT HOLDINGS LIMITED
Duration : Period :
Tencent Holdings Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends TENCENT HOLDINGS LIMITED
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 55
Last Close Price 245,47 CNY
Average target price 382,39 CNY
Spread / Average Target 55,8%
EPS Revisions
Managers and Directors
Hua Teng Ma Executive Chairman & Chief Executive Officer
Chi Ping Lau Chief Strategy & Investment Officer
Shek Hon Lo Chief Financial Officer & Senior Vice President
Chen Ye Xu Chief Information Officer
Yu Xin Ren COO & President-Interactive Entertainment Group
Sector and Competitors
1st jan.Capi. (M$)
TENCENT HOLDINGS LIMITED-40.02%328 997
NETFLIX, INC.-59.30%109 042
PROSUS N.V.-25.61%72 446
AIRBNB, INC.-33.52%70 786
UBER TECHNOLOGIES, INC.-33.13%55 517
COSTAR GROUP, INC.-11.41%29 369