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Tencent jumps on report of Chinese billionaire’s big buy order | The Edge Markets

March 1, 2022
Source: theedgemarkets.com theedgemarkets.com
News Snapshot:
- A + A (March 1): Tencent Holdings Ltd. rallied Tuesday in Hong Kong, after a state-run newspaper reported that a mainland billionaire investor has placed heavy orders for the Chinese tech giant’s US-listed shares. The internet and video gaming firm rose as much as 4.2% in the Asian financial hub, before finishing up 2.3% and marking its best closing performance since Feb 9. The gains reversed a three-day losing streak that brought the stock to the verge of oversold territory amid a global selloff in risky assets following Russia’s invasion of Ukraine. Tencent shares also came under pressure last...
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