U.S.-listed shares of China companies gains in premarket trading,as official approval for a Tencent Holdings Ltd. acquisition
Tiger Newspress2021-07-13
U.S.-listed shares of China companies gains in premarket trading,as official approval for a Tencent Holdings Ltd. acquisition.
Tencent’s purchase of search engine developer Sogou was approved by China’s anti-monopoly regulator, according to a statement on the website of the State Administration for Market Regulation.
“Regulators are still considering each deal case by case and not rejecting all of them. The sentiment is not that negative now,” said Castor Pang, head of research at Core Pacific Yamaichi. “Any good news will trigger buying on dips in the sector.”
SOHU shares rises 12.9% in premarket,and Sogou surges 2%; Baidu is up 2.75%;Alibaba rises 2.6%;JD shares rises 2.2%;DIDI shares rises 1.7%.
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