After the peak in April, Chinese investors reduced their exposure to Tencent
According to data compiled by Kaiyuan Securities, as of Monday, the proportion of Tencent shares held by mainland Chinese investors through the Hong Kong Stock Connect has fallen to just below 11%. Since reaching a peak of about 12% at the end of April, mainland investors have been reducing their holdings of Tencent shares almost every trading day through the Hong Kong Stock Connect
Tech giant Tencent Holdings Limited is struggling to maintain market enthusiasm. Over the past two months, Chinese investors have been steadily reducing their holdings in Tencent.
According to data compiled by Kaiyuan Securities, as of Monday, the proportion of Tencent shares held by mainland investors through the Hong Kong Stock Connect has fallen to just below 11%.
The data shows that since the shareholding ratio peaked at around 12% at the end of April, mainland investors have been reducing their holdings of Tencent stock almost every trading day through the Hong Kong Stock Connect. From mid-January to April, investors had significantly bought in as Tencent's stock price corrected.
Tencent's Q1 financial report released last month showed that its Q1 revenue was 180.022 billion yuan, a year-on-year increase of 13%, and adjusted net profit increased by 11% year-on-year. AI capabilities have already made substantial contributions to performance advertising and evergreen games.
Since the low point in April, Tencent's stock price has risen by about 16%, but it still lags behind the Hang Seng Tech Index. Compared to the over 90% increase in Pop Mart during the same period, as well as other stock market stars like healthcare stocks, Tencent's growth appears lackluster.
As of the time of publication, Tencent's Hong Kong stock rose 0.69% to HKD 507.
