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    700   KYG875721634

TENCENT HOLDINGS LIMITED

(700)
  Report
Delayed Hong Kong Stock Exchange  -  04:08 2022-09-30 am EDT
266.40 HKD   -1.55%
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09/30EU antitrust regulators set Nov. 8 deadline for Microsoft, Activision decision
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China stocks end a tad lower, hit by COVID concerns and dim economic outlook

08/16/2022 | 04:55am EDT

SHANGHAI, Aug 16 (Reuters) - China blue-chip index edged lower on Tuesday on worries about COVID-19 flare-ups and slowing economic growth although property stocks jumped on news of policy support.

Meituan plunged 9% after sources told Reuters that Tencent Holdings Ltd plans to sell all or the bulk of its $24 billion stake in the food delivery giant. The news dragged down Hong Kong's main stock benchmark.

The blue-chip CSI300 index fell 0.2%, while the Shanghai Composite Index gained 0.1%.

The Hang Seng index fell 1.1%, while the China Enterprises Index lost 1.3%.

** China's central bank cut key lending rates in a surprise move on Monday as data showed Chinese economic activity and credit expansion slowed sharply in July.

** Analysts now expect banks to cut the Loan Prime Rate next week.

** Other Asian equity markets struggled for direction, hampered by worries over global growth following weak China data.

** Most industry sectors slipped, with healthcare and non-ferrous metal down more than 1%.

** Real estate developers listed in the mainland rose 1.6%, while mainland developers traded in Hong Kong jumped nearly 6%.

** Chinese regulators have instructed state-owned China Bond Insurance Co Ltd to provide guarantees for onshore bond issuance by a few private property developers including Longfor Group and CIFI Holdings, sources said.

** Longfor, CIFI and top developer Country Garden soared between 9% and 13% in Hong Kong.

** China's COVID-19 situation has been worsening over the past week, with the daily local caseload surging to more than 2,000, Nomura said in a note.

** As of Monday, 22 cities in China were implementing full or partial lockdowns or some kind of district-based control measures, affecting 5.6% of population and 8.8% of GDP, according to a Nomura survey.

** Meituan slumped more than 9% in Hong Kong, its biggest daily drop in 5 months.

** Tencent plans to sell Meituan shares to placate domestic regulators and monetise an eight-year-old investment, four sources said.

** Tencent edged up 0.9%, while the Hang Seng Tech Index declined 2%. (Reporting by Shanghai Newsroom; Editing by Subhranshu Sahu and Edwina Gibbs)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
CIFI HOLDINGS (GROUP) CO. LTD. 11.11% 0.8 Delayed Quote.-84.03%
COUNTRY GARDEN HOLDINGS CO. LTD. 8.98% 1.82 Delayed Quote.-75.87%
LONGFOR GROUP HOLDINGS LIMITED -1.10% 22.55 Delayed Quote.-37.87%
MEITUAN INC. -2.70% 165.6 Delayed Quote.-26.53%
NOMURA CO., LTD. -2.06% 905 Delayed Quote.-3.04%
NOMURA CORPORATION -2.11% 1066 Delayed Quote.21.69%
TENCENT HOLDINGS LIMITED -1.55% 266.4 Delayed Quote.-40.76%
All news about TENCENT HOLDINGS LIMITED
01:51aTencent shifts focus to majority deals, overseas gaming assets for growth-sources
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09/30EU antitrust regulators set Nov. 8 deadline for Microsoft, Activision decision
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09/28U.S. boutique bank Raine expands in Southeast Asia, bets on media and tech
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09/28Italy's Satispay valued at over 1 billion euro after raising 320 million euros
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09/27Factbox-Companies cut jobs, freeze hiring to prepare for economic slowdown
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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
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09/23BAIOO Proposes Agreement Renewal on Shiwuyu Game
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09/23China stocks fall on foreign outflow concerns, geopolitical risks
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More news
Analyst Recommendations on TENCENT HOLDINGS LIMITED
More recommendations
Financials
Sales 2022 568 B 79 820 M 79 820 M
Net income 2022 101 B 14 206 M 14 206 M
Net cash 2022 76 897 M 10 809 M 10 809 M
P/E ratio 2022 22,7x
Yield 2022 0,42%
Capitalization 2 275 B 320 B 320 B
EV / Sales 2022 3,87x
EV / Sales 2023 3,26x
Nbr of Employees 110 715
Free-Float 63,2%
Chart TENCENT HOLDINGS LIMITED
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Technical analysis trends TENCENT HOLDINGS LIMITED
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 55
Last Close Price 241,43 CNY
Average target price 381,89 CNY
Spread / Average Target 58,2%
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
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