Tencent Stake Worth $7.6 Billion Appears in Hong Kong Clearing System

Bloomberg2022-09-08

The move is typically seen by traders as sign of stock sellingShares fall as traders expect Prosus to continue cutting stakeThe Exchange Square Complex, which houses the Hong Kong Stock Exchange, in ...

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Comments

5D1T2
2022-09-09
5D1T2
Ok
MSTAN
2022-09-08
MSTAN
👌👌
Road1Warrior
2022-09-08
Road1Warrior
Coming back to earth here
Rudyy
2022-09-08
Rudyy
Ok
AdelGYS
2022-09-08
AdelGYS
Oh
jiunnnnn
2022-09-08
jiunnnnn
OMG

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The move is typically seen as a precursor to further selling. Naspers Ltd. -- which invests via its Dutch unit Prosus NV -- and Tencent founder Pony Ma are among investors whose stakes exceed that size, Bloomberg data show.Investors are pointing to likely selling by Prosus, which has been reducing its stake in Tencent to fund a buyback program. Tencent shares slid as much as 2.5% on Thursday, taking their loss since a June high to more than 20%.Worries that its dominant backer is stepping back, combined with Tencent’s weakening sales and persistent regulatory pressure, have weighed on share prices even as the firm has been repurchasing in the open market recently on an almost daily basis.“People are worried that the big holder will keep selling their stake and there is no timetable when their sale will end,” said Steven Leung, executive director at Uob Kay Hian (Hong Kong) Ltd. “This kind of changes in the clearing system will always trigger worries that more selling will happen in near future.”Naspers didn’t immediately respond to a Bloomberg email seeking 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back to earth here","listText":"Coming back to earth here","text":"Coming back to earth here","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9938268863","repostId":2265215839,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9938269248,"gmtCreate":1662614936884,"gmtModify":1676537101630,"author":{"id":"3573013786940329","authorId":"3573013786940329","name":"Rudyy","avatar":"https://static.tigerbbs.com/bb9e738a6e83bd49057ffbf45051da2a","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"3573013786940329","authorIdStr":"3573013786940329"},"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9938269248","repostId":2265215839,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9938289586,"gmtCreate":1662613431545,"gmtModify":1676537101272,"author":{"id":"3581174525648411","authorId":"3581174525648411","name":"AdelGYS","avatar":"https://static.tigerbbs.com/6147c611984619a69630f877f8238a7a","vip":1,"crmLevel":5,"crmLevelSwitch":0,"idStr":"3581174525648411","authorIdStr":"3581174525648411"},"htmlText":"Oh","listText":"Oh","text":"Oh","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9938289586","repostId":2265215839,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9938213700,"gmtCreate":1662611594700,"gmtModify":1676537100939,"author":{"id":"4088132666965010","authorId":"4088132666965010","name":"jiunnnnn","avatar":"https://community-static.tradeup.com/news/24f28c4d762ae6f62b32956f1633ebdf","vip":1,"crmLevel":5,"crmLevelSwitch":0,"idStr":"4088132666965010","authorIdStr":"4088132666965010"},"htmlText":"OMG","listText":"OMG","text":"OMG","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9938213700","repostId":2265215839,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":45,"commentSize":8,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 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