Tencent, China Giants’ Targets Cut Most Since July-To The Moon - Tiger Brokers Online Investing Community - To The Moon

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Tencent, China Giants’ Targets Cut Most Since July

JackJackson
2022-04-22

A rapid 30% recovery from the trough for Chinese technology stocks is still far from convincing some market watchers that the worst is over for the sector.

Analysts slashed their target prices for members of the Hang Seng Tech Index in March by the most since July following a sluggish earnings season, according to data compiled by Bloomberg.

Analysts slash Hang Seng Tech Index members' target prices in March

Price objectives for internet giant Tencent Holdings Ltd. $TENCENT(00700)$ and online retailer JD.com Inc. came down by more than 10%. Smartphone component maker Sunny Optical Technology Group Co. and software company Ming Yuan Cloud Group Holdings Ltd. had the biggest reductions among index members, down 33% and 30%, respectively.

The Hang Seng Tech Index’s 30% surge since mid-March has lost momentum in the past week. Even as the nation’s top leadership vowed to keep markets stable, Beijing kept rolling out new crackdown measures on the tech sector, including a tax probe and reported tip.

Source:Blommberg

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Jeff2022
·2022-04-25
Aiks
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GhordofWar
·2022-04-23
ok
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Jessie76
·2022-04-23
👍
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KCmax
·2022-04-23
Very good
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alegnat
·2022-04-23
😄
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Booshejhebe
·2022-04-23
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Axel25
·2022-04-23
[smile]
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KacyYeo
·2022-04-23
😀
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timetub
·2022-04-23
wow
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PeiYi99
·2022-04-23
Okay
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RTee
·2022-04-23
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