Prosus sale fears send Tencent shares tumbling
tumbled by the most in seven weeks amid speculation its controlling shareholder, Naspers-controlled Prosus, may speed up selling shares in the Chinese internet giant.plans to deposit an additional 96 million of the Tencent shares into the Hong Kong stock clearing system. Such a move may signal that it may accelerate their selling in the company, even though Tencent has been repurchasing shares to offset the downward pressure, according to traders. Tencent fell as much as 4.
It’s likely that Prosus will speed up their selling of Tencent shares when it’s near the level of HK$400
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Tencent tumbles as rumours about a Prosus share sale growAs of January, Prosus had sold more than 193-million Tencent shares, cutting its stake to about 26.9% from 29% in June 2022
Read more »
Bitcoin is back above $30 000 - TechCentralBitcoin breached the key $30 000 level for the first time in 10 months on Tuesday.
Read more »
Ethereum's next big upgrade is here - TechCentralThe ethereum blockchain’s next big software upgrade is poised to happen on Wednesday.
Read more »
Jailbreaking AI chatbots is tech's new pastime - TechCentralA small but growing number of people are coming up with methods to poke and prod (and expose potential security holes) in popular AI tools.
Read more »
Apple Mac shipments plunge 40% year on year - TechCentralGlobal shipments of PCs fell by 29% in the first quarter of 2023 due to weak demand, with Apple the worst performer.
Read more »
Warning over North Korea's 'malicious' cyber activities - TechCentralThe US, South Korea and Japan expressed deep concern over North Korea's 'malicious' cyber activities to support its weapons programmes.
Read more »