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    700   KYG875721634

TENCENT HOLDINGS LIMITED

(700)
  Report
End-of-day quote. End-of-day quote Hong Kong Stock Exchange - 11/29
462.4 HKD   -0.22%
04:03aHong Kong shares at over 1-year low on Omicron, tech regulatory concerns
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Tencent : HK stocks hit near 6-week high on tech boost; China market range-bound

10/20/2021 | 12:57am EST

SHANGHAI, Oct 20 (Reuters) - Hong Kong stocks hit a near six-week high on Wednesday, aided by a sustained rebound in technology names, while China shares were range-bound amid lingering uncertainty around monetary policies and China Evergrande Group's debt woes.

** The Hang Seng index rose 1.3% to 26,125.96 in morning trade and was on track for a fourth straight session of gains.

** In mainland China, the bluechip CSI300 index rose 0.1%, while the Shanghai Composite Index was unchanged.

** The Hang Seng Tech Index, which tracks Hong Kong-listed tech giants including Alibaba Group Holding Ltd and Tencent Holdings, jumped 3.1%, having bounced more than 15% from a record closing low hit on Oct. 6.

** Low valuation has attracted bargain hunting after the sector was knocked down by Beijing's crackdown.

** "The sector's valuation has reached the lower end of its historical range, we are raising our tactical allocation for the internet sector from underweight to equal weight," Meng Lei, strategist at UBS Securities, wrote in a note.

** Reflecting buying interest from mainland investors, the E Fund CSI Overseas China Internet 50 ETF saw a near doubling in fund units in the third quarter.

** The mainland China stock market is still searching for direction, as worries over economic growth slowdown persist amid the Evergrande debt crisis and power shortages.

** China maintained its benchmark lending rate for corporate and household loans for an 18th month at its October fixing, but some analysts think easing is imminent.

** "The big picture is that the economy's rebound is faltering, and the property sector downturn set to deepen," wrote Julian Evans-Pritchard, China economist at Capital Economics.

** "We continue to think the PBOC will start lowering policy rates, including the LPR, before the end of this year, followed by more reductions in 2022."

** China's real estate stocks fell 1.7%, as new home prices stalled for the first time since February 2020 in September amid Beijing's sustained crackdown on speculative investment.

** China's coal and energy stocks tumbled after the state planner vowed to take all necessary measures to bring high coal prices back to a reasonable range. (Reporting by Shanghai Newsroom; Editing by Subhranshu Sahu)


ę Reuters 2021
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Analyst Recommendations on TENCENT HOLDINGS LIMITED
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Financials
Sales 2021 569 B 89 227 M 89 227 M
Net income 2021 159 B 24 897 M 24 897 M
Net cash 2021 138 B 21 674 M 21 674 M
P/E ratio 2021 23,3x
Yield 2021 0,44%
Capitalization 3 607 B 565 B 566 B
EV / Sales 2021 6,10x
EV / Sales 2022 5,08x
Nbr of Employees 107 348
Free-Float 62,4%
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 49
Last Close Price 378,73 CNY
Average target price 511,96 CNY
Spread / Average Target 35,2%
EPS Revisions
Managers and Directors
Hua Teng Ma Executive Chairman & Chief Executive Officer
Chi Ping Lau President & Executive Director
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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