Tuesday, August 2, 2022

Tencent share price dips below HK$300, China’s Buffett announces deal again

on Tencent Holdingsshare priceWhen it fell below 300 Hong Kong dollars (about US$38.3), the chairman of BBK Group, along with “China”.buffettDuan Yongping, known as Duan Yongping, on the morning of the 2ndcommunityThe platform issued a message saying: “If (Tencent Holdings ADR) can reach below $30, I will buy more. Given the current mood of everyone, a continuation of the decline is possible.”

On the first evening, Duan Yongping said that he had just bought another 100,000 shares of Tencent Holdings ADRs (American Depository Receipts) for US$37.37, ie he spent US$3.7 million to buy Tencent ADRs in US shares.

In August 2021, when Tencent fell to the beginning of the 400 Hong Kong dollar, Duan Yongping issued a deal hunter (ADR) for the first time. Since then, in February, March and April of this year, he has expressed in the public media that he will raise Tencent, this time it is Duan Yongping’s fourth time since this year, speaking to Tencent.

Tencent’s share price has been completely falling lately. It closed below the HK$300 mark for the first time, and the decline worsened on the second. The stock price hit a new low since January 2019, with the latest market cap at HK$2.8 trillion. , As major shareholder South African Press Group announced again in late June that it would gradually reduce its stake, Tencent’s share price fell 24% in more than a month, and its market value was 900 billion Hong Kong dollars. (about 115.03) evaporated. billion US dollars).

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