Tencent divestment concerns add to China market pressure ...Qatar

Gulf Times - News
Tencent divestment concerns add to China market pressure
source : Gulf Times ( Qatar ) () 46
In a world awash in technology stocks for sale, the last thing bulls want to see is more big sellers hitting the market. In China, that appears to be just what’s happening. Investors are fretting that Tencent Holdings Ltd will add to pressure on the market if it moves ahead with a reported plan to offload 100bn yuan ($14.5bn) from its equity portfolio. While the company denied the report, that was little comfort to stockholders, who pushed down the share prices of Tencent investees such as Pinduoduo Inc and KE Holdings Inc. A divestment would follow similar moves under consideration by Baidu Inc and Alibaba Group Holding Ltd as the Internet giants seek to assuage regulators concerned about

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