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    700   KYG875721634

TENCENT HOLDINGS LIMITED

(700)
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Delayed Hong Kong Stock Exchange  -  04:08 2022-10-03 am EDT
263.80 HKD   -0.98%
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Shanghai stocks fall for third session amid COVID woes; property firms surge

07/25/2022 | 05:12am EDT

SHANGHAI, July 25 (Reuters) - China stocks ended down for a third straight session on Monday on COVID-19 flare-ups and global recession concerns, although realty companies surged as a source told Reuters that Beijing was planning to provide them financial support.

The blue-chip CSI300 fell 0.6% to 4,212.64, while the Shanghai Composite lost 0.6% to 3,250.39 points.

The Hang Seng index fell 0.2% to 20,562.94, while the China Enterprises index lost 0.4% to 7,077.09 points.

** Mainland China reported 800 new coronavirus cases for Sunday.

** Other Asian stocks also lost ground, as worries about a global economic downturn sapped investors' risk appetite.

** "A-shares appeared relatively weak since July, following a strong rebound," said CICC in a note, adding that investors should focus on the potential upcoming July Politburo meeting.

** China will set up a real estate fund to help developers resolve a crippling debt crisis, aiming for a war chest of up to 300 billion yuan ($44.4 billion), according to a state bank official with direct knowledge of the matter.

** The Hang Seng Mainland Properties Index jumped 3.2%, and the CSI 300 Real Estate Index rose 1.9%.

** Shares in new energy firms, automobiles and communications equipment makers declined more than 2%.

** Meng Lei, China Equities Strategist at UBS Securities said the market is likely to enter a consolidation stage near term, citing broad-based second-quarter earnings downgrades, no significant fund inflows and relative low level of new mutual funds issuance.

** The Shanghai Stock Exchange (SSE) vowed to maintain market stability ahead of the politically significant 20th Party Congress later this year.

** China's transport ministry tightened existing rules governing how online ride-hailing firms should handle and share their data with regulators, signaling tighter regulatory scrutiny.

** Tech giants listed in Hong Kong dropped 1.4%, with index heavyweights Alibaba, Tencent and Meituan down between 1.7% and 2.5%.

** Meanwhile, China's securities regulator on Monday denied a Financial Times report that China was planning to sort U.S.-listed Chinese companies into groups based on the sensitivity of the data they hold, bringing them into compliance with U.S. rules. (Reporting by Shanghai Newsroom; editing by Uttaresh.V and Vinay Dwivedi)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ALIBABA GROUP HOLDING LIMITED 4.41% 84.08 Delayed Quote.-32.28%
MEITUAN INC. -2.36% 161.7 Delayed Quote.-28.26%
S&P/CITIC 300 INDEX -0.61% 3483 Real-time Quote.-22.44%
S&P/CITIC 50 INDEX -0.37% 3385.92 Real-time Quote.-19.31%
SHANGHAI A INDEX -0.55% 3169.6 Real-time Quote.-16.90%
SHANGHAI STOCK EXCHANGE B SHARES INDEX -0.15% 283.6251 Real-time Quote.-0.78%
TENCENT HOLDINGS LIMITED -0.98% 263.8 Delayed Quote.-42.25%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) -0.96% 7.03269 Delayed Quote.11.71%
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Analyst Recommendations on TENCENT HOLDINGS LIMITED
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Financials
Sales 2022 568 B 79 824 M 79 824 M
Net income 2022 101 B 14 207 M 14 207 M
Net cash 2022 76 897 M 10 809 M 10 809 M
P/E ratio 2022 22,5x
Yield 2022 0,42%
Capitalization 2 252 B 317 B 317 B
EV / Sales 2022 3,83x
EV / Sales 2023 3,23x
Nbr of Employees 110 715
Free-Float 63,2%
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Mean consensus BUY
Number of Analysts 55
Last Close Price 239,07 CNY
Average target price 381,88 CNY
Spread / Average Target 59,7%
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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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