$TENCENT(00700)$...Tencent fell while $Lion-OCBC Sec HSTECH S$(HST.SI)$rallied? What's going on?!
There were 2 pieces of news yesterday:
- Naspers/Prosus plans to reduce Tencent stake by selling it 2-3% of market daily volume each time. This was not really news. Market reacted negatively but measured.
- Tencent announced partnering c.40automotive companies to provide a custom-built cloud for EVs. I think thisis a big news, a great growth area. The market is yet to take in the potential fully.
Net net I am still positive on Tencent for a recovery rally. I see its share price to break $400 any time!
What do you think?
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