Log in
Log in
Or log in with
Twitter Twitter
Facebook Facebook
Apple Apple     
Sign up
Or log in with
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


Delayed Hong Kong Stock Exchange  -  03:08:49 2023-02-03 am EST
385.00 HKD   +0.52%
02/02Chinese Robotics Startup UBTech Robotics Files for Hong Kong IPO
02/02Tencent Expects AI-Generated Content to Grow Rapidly
02/01Sales of China's 30 Most Popular Mobile Games Down 20% in 2022
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Hong Kong stocks help emerging markets rise 2%

10/05/2022 | 05:13am EST


HK shares surge almost 6%; HSBA, Tencent rally


Hungary's forint slips again, approaches record low


Polish, Romanian cenbank decisions due later in day


S.African cenbank says power cuts to hamper growth

Oct 5 (Reuters) - Emerging market shares jumped 2% on Wednesday, thanks to a surge in Hong Kong stocks, while currencies were muted as the dollar attempted to claw back some losses.

Hong Kong shares jumped 5.9%, with HSBC shares rallying 5.7% after the bank said it was considering selling its business in Canada, worth billions of dollars.

Internet and tech heavyweights such as Tencent, Alibaba and Meituan jumped between 5.6% and 8.2%.

Elsewhere, Turkish shares rose 0.5%, extending gains to a fourth session. The benchmark index has rallied more than 10% since Friday.

Most other bourses in emerging Europe, the Middle East and Africa lost ground. Optimism from a strong overnight close on Wall Street appeared to have faded as Western European bourses and U.S. stock futures fell.

MSCI's index of EM shares had rallied 2% on Tuesday as well, after weak U.S. manufacturing data spurred bets that the Federal Reserve could be forced to tone down its aggressive tightening stance. Eyes will now be on Friday's U.S. labour market report.

But keeping investors nervous, San Fransisco Fed President Mary Daly called for more hikes and sustained restrictive policies till inflation comes down to the Fed's 2% target.

"We remain sceptical that the Fed is about to pivot on the back of slightly softer U.S. data this week," ING strategists said.

As major central banks tighten policies aggressively to curb inflation, recession fears have emerged, sapping risk appetite. The EM stocks index has declined more than 25% so far this year, while its currencies counterpart is down 7.7%.

Hungary's forint dropped 0.6%, approaching its all-time low as the Russia-Ukraine war hampers gas flows, raising worries about energy supply and surging costs.

Hungary's central bank will offer 1 trillion forints ($2.38 billion) worth of new short-term discount bills in a tender on Thursday, as it aims to drain forint liquidity from the market in line with an announcement made last month.

Romania's leu and Poland's zloty made small moves against the euro ahead of central bank decisions later in the day.

Romania's interest rate was seen rising by 50 basis points to 6%, while Poland is expected to raise by 25 basis points to 7.00% amid rising inflation.

In Poland, the market is still tilted to the hawkish side as inflation is yet to peak, ING said. But as the central bank tries to end the hiking cycle, Wednesday's meeting will be negative for the zloty, they said.

South Africa's rand lost 0.6% against the dollar after rallying nearly 3% over the last two sessions.

The country's central bank on Tuesday said it estimated scheduled power cuts implemented by struggling utility Eskom would shave about 1.0 percentage point from 2022 economic growth. For GRAPHIC on emerging market FX performance in 2022, see http://tmsnrt.rs/2egbfVh For GRAPHIC on MSCI emerging index performance in 2022, see https://tmsnrt.rs/2OusNdX

For TOP NEWS across emerging markets

For CENTRAL EUROPE market report, see

For TURKISH market report, see

For RUSSIAN market report, see (Reporting by Susan Mathew in Bengaluru; Editing by Subhranshu Sahu)

ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ALIBABA GROUP HOLDING LIMITED -2.51% 107.0236 Delayed Quote.24.58%
AUSTRALIAN DOLLAR / EURO (AUD/EUR) -1.08% 0.64153 Delayed Quote.1.88%
AUSTRALIAN DOLLAR / US DOLLAR (AUD/USD) -1.69% 0.6951 Delayed Quote.4.91%
BRITISH POUND / EURO (GBP/EUR) -0.48% 1.11489 Delayed Quote.-0.43%
BRITISH POUND / US DOLLAR (GBP/USD) -1.15% 1.20776 Delayed Quote.2.41%
CANADIAN DOLLAR / EURO (CAD/EUR) 0.13% 0.689755 Delayed Quote.-0.81%
CANADIAN DOLLAR / US DOLLAR (CAD/USD) -0.52% 0.7466 Delayed Quote.2.05%
EURO / POLISH ZLOTY NEW (EUR/PLN) 0.63% 4.70904 Delayed Quote.0.28%
EURO / US DOLLAR (EUR/USD) -0.65% 1.08316 Delayed Quote.2.90%
INDIAN RUPEE / EURO (INR/EUR) 0.42% 0.01122 Delayed Quote.-1.40%
INDIAN RUPEE / US DOLLAR (INR/USD) -0.20% 0.012168 Delayed Quote.1.21%
MEITUAN INC. -2.15% 172.8 Delayed Quote.1.09%
NEW ZEALAND DOLLAR / US DOLLAR (NZD/USD) -1.92% 0.63471 Delayed Quote.2.63%
TENCENT HOLDINGS LIMITED 0.52% 385 Delayed Quote.14.67%
US DOLLAR / EURO (USD/EUR) 0.66% 0.923174 Delayed Quote.-2.82%
US DOLLAR / POLISH ZLOTY NEW (USD/PLN) 1.29% 4.34693 Delayed Quote.-2.51%
US DOLLAR / RUSSIAN ROUBLE (USD/RUB) 0.56% 70.4657 Delayed Quote.-3.12%
02/02Chinese Robotics Startup UBTech Robotics Files for Hong Kong IPO
02/02Tencent Expects AI-Generated Content to Grow Rapidly
02/01Sales of China's 30 Most Popular Mobile Games Down 20% in 2022
02/01Factbox-Investments flow to automated vehicles in non-auto settings
01/31China leads the world in counterfeit, pirated products -U.S. report
01/31Nomura Adjusts Tencent's Price Target to HK$510 From HK$398, Keeps at Buy
01/29China stocks rise on consumption recovery during holidays
01/26Sony's gaming chief met EU's Vestager on Microsoft's Activision deal -source
01/24Tencent-Backed Pharma Tech Firm XtalPi Doubles Down on AI; Plans Shanghai, Hong Kong Ex..
01/23Didi Chuxing Returns to App Stores in China After Government Ban on New Users
More news
Analyst Recommendations on TENCENT HOLDINGS LIMITED
More recommendations
Sales 2022 555 B 82 057 M 82 057 M
Net income 2022 112 B 16 592 M 16 592 M
Net cash 2022 98 942 M 14 631 M 14 631 M
P/E ratio 2022 28,5x
Yield 2022 0,36%
Capitalization 3 122 B 462 B 462 B
EV / Sales 2022 5,45x
EV / Sales 2023 4,77x
Nbr of Employees 108 836
Free-Float 63,2%
Duration : Period :
Tencent Holdings Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends TENCENT HOLDINGS LIMITED
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus BUY
Number of Analysts 52
Last Close Price 331,96 CNY
Average target price 366,76 CNY
Spread / Average Target 10,5%
EPS Revisions
Managers and Directors
Hua Teng Ma Executive Chairman & Chief Executive Officer
Chi Ping Lau Chief Strategy & Investment Officer
Shek Hon Lo Financial Controller
Chen Ye Xu Chief Information Officer
Shan Lu SEVP, President-Technology & Engineering Group
Sector and Competitors
1st jan.Capi. (M$)
NETFLIX, INC.24.42%163 393
PROSUS N.V.14.68%105 293
AIRBNB, INC.38.62%75 044