15-03-2014, 09:17 PM
Thanks for starting a new thread for Tencent. I merged all other Tencent related threads into this one. This thread will serve as the thread of Tencent, for ease of reference.
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(08-04-2014, 10:14 AM)CityFarmer Wrote: [ -> ]It catches my attention due to a name, Mr Mark Mobius...
(not vested)
Tencent extends Internet stock rout as valuation concerns deepen
HONG KONG – Tencent Holdings slumped to a two-month low and a gauge of Asian Internet companies erased its advance for the year amid growing concern that valuations overshot earnings prospects, the Bloomberg news agency reported.
Tencent tumbled 4.5 per cent to HK$501.50 at the close in Hong Kong, paring its gain during the past five years to 698 per cent. The Bloomberg Asia Pacific Internet Index slid 3.8 per cent, extending its decline from a March 6 high to 15 per cent and its lowest level since Dec 26. SoftBank Corp, which owns a stake in Alibaba Group Holding, sank 4.6 per cent in Tokyo. Naver Corp declined 6.5 per cent in Seoul.
The losses in Asia follow the Nasdaq Composite Index’s biggest retreat in two months on April 4, as investors pare holdings in Internet companies that have led gains in global equities during the past 12 months. The retreat may weigh on investor demand for initial public offerings as Weibo, China’s biggest microblogging outlet, and Alibaba, the nation’s largest e-commerce business, prepare to sell shares in the U.S.
Mr Mark Mobius, who oversees about US$50 billion at Templeton Emerging Markets Group, said he is buying technology stocks after the retreat sent valuations to “reasonable” levels.
“If you look at Tencent for example, it’s come down about 20 per cent and that’s a pretty good correction,” Mr Mobius, whose Templeton Asian Growth Fund has outperformed 88 per cent of peers tracked by Bloomberg this year, said in an interview in Hong Kong. “A lot of people were concerned because of the number of new issues coming in the US market. I think that’s probably coming to an end now.”
http://www.todayonline.com/business/tenc...rns-deepen
(08-04-2014, 12:30 PM)Tiggerbee Wrote: [ -> ](08-04-2014, 10:14 AM)CityFarmer Wrote: [ -> ]It catches my attention due to a name, Mr Mark Mobius...
(not vested)
Tencent extends Internet stock rout as valuation concerns deepen
HONG KONG – Tencent Holdings slumped to a two-month low and a gauge of Asian Internet companies erased its advance for the year amid growing concern that valuations overshot earnings prospects, the Bloomberg news agency reported.
Tencent tumbled 4.5 per cent to HK$501.50 at the close in Hong Kong, paring its gain during the past five years to 698 per cent. The Bloomberg Asia Pacific Internet Index slid 3.8 per cent, extending its decline from a March 6 high to 15 per cent and its lowest level since Dec 26. SoftBank Corp, which owns a stake in Alibaba Group Holding, sank 4.6 per cent in Tokyo. Naver Corp declined 6.5 per cent in Seoul.
The losses in Asia follow the Nasdaq Composite Index’s biggest retreat in two months on April 4, as investors pare holdings in Internet companies that have led gains in global equities during the past 12 months. The retreat may weigh on investor demand for initial public offerings as Weibo, China’s biggest microblogging outlet, and Alibaba, the nation’s largest e-commerce business, prepare to sell shares in the U.S.
Mr Mark Mobius, who oversees about US$50 billion at Templeton Emerging Markets Group, said he is buying technology stocks after the retreat sent valuations to “reasonable” levels.
“If you look at Tencent for example, it’s come down about 20 per cent and that’s a pretty good correction,” Mr Mobius, whose Templeton Asian Growth Fund has outperformed 88 per cent of peers tracked by Bloomberg this year, said in an interview in Hong Kong. “A lot of people were concerned because of the number of new issues coming in the US market. I think that’s probably coming to an end now.”
http://www.todayonline.com/business/tenc...rns-deepen
Did Tencent initiate the share buy back on Mobius' comments? Heh..
(Vested)