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MarketScreener Homepage  >  Equities  >  Hong Kong Stock Exchange  >  Tencent Holdings Limited    700   KYG875721634

TENCENT HOLDINGS LIMITED

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Hong Kong shares end higher as China's Xi speech lifts tech stocks

10/14/2020 | 04:40am EST

* HSI +0.1%, HSCE -0.43%

* Tencent hits all-time high after Xi's comments

* Evergrande sinks on slimmed-down share sale

BEIJING, Oct 14 (Reuters) - Hong Kong shares recovered lost ground to close higher on Wednesday, as tech stocks climbed after Chinese President Xi Jinping's Shenzhen speech emphasized on property rights and protection for entrepreneurs, lifting risk appetite.

** At the close of trade, the Hang Seng index was up 17.41 points or 0.07% at 24,667.09. The Hang Seng China Enterprises index rose 0.43% to 9,920.77. ** The sub-index of the Hang Seng tracking energy shares dropped 2.8%, while the IT sector rose 1.91%, the financial sector ended 0.27% lower and the property sector dipped 0.96%.

** Heavyweight stock Tencent Holdings Ltd, a Shenzhen-based tech giant, hit an all-time high and closed up 3.1% after Xi's speech.

** Shenzhen will strengthen property rights and protection of entrepreneurs, Xi said on Wednesday in a speech to mark the establishment of the country's first economic zone in the southern city four decades earlier, promising the city government will get more leeway to pursue reforms. ** Shares in China Evergrande Group fell 17% after the country's most indebted property developer trimmed its share sale to shore up its balance sheet under the government's new debt-ratio caps.

** China's main Shanghai Composite index closed down 0.56% at 3,340.78 points, while the blue-chip CSI300 index ended 0.66% weaker. ** Around the region, MSCI's Asia ex-Japan stock index was firmer by 0.1%, while Japan's Nikkei index closed 0.11% higher. ** The yuan was quoted at 6.7409 per U.S. dollar at 0814 GMT, 0.06% firmer than the previous close of 6.745. (Reporting by Zhang Yan in Beijing, and Andrew Galbraith in Shanghai, Editing by Sherry Jacob-Phillips)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
CHINA EVERGRANDE GROUP -2.53% 16.16 End-of-day quote.-25.19%
HANG SENG 0.07% 26542.09 Real-time Quote.-5.91%
MSCI AC ASIA EX JAPAN (STRD, UHD) 1.28% 800.749 Real-time Quote.14.87%
NIKKEI 225 0.05% 26800.98 Real-time Quote.13.23%
S&P/CITIC 300 INDEX -0.01% 4392.56 Delayed Quote.23.68%
S&P/CITIC 50 INDEX 0.05% 4422.92 Delayed Quote.18.30%
TENCENT HOLDINGS LIMITED -0.69% 574 End-of-day quote.52.82%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) 0.07% 6.5489 Delayed Quote.-5.47%
US DOLLAR / CHINESE YUAN RENMINBI (USD/CNY) -0.13% 6.5622 Delayed Quote.-5.53%
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Financials
Sales 2020 481 B 73 261 M 73 261 M
Net income 2020 128 B 19 509 M 19 509 M
Net cash 2020 71 088 M 10 834 M 10 834 M
P/E ratio 2020 37,0x
Yield 2020 0,28%
Capitalization 4 629 B 704 B 705 B
EV / Sales 2020 9,48x
EV / Sales 2021 7,53x
Nbr of Employees 77 592
Free-Float 60,4%
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Technical analysis trends TENCENT HOLDINGS LIMITED
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 50
Average target price 577,06 CNY
Last Close Price 489,92 CNY
Spread / Highest target 46,5%
Spread / Average Target 17,8%
Spread / Lowest Target -27,9%
EPS Revisions
Managers
NameTitle
Hua Teng Ma Executive 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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