Tencent Holdings (TCEHY) shares retreated from record highs Tuesday on news that the Chinese online messaging giant Chairman and CEO Pony Ma Huateng sold 20 million shares over two days last week Tencent, which is listed in Hong Kong but trades over the counter in the U.S., fell fell 5.5% on the Hong Kong Stock Exchange. In the U.S., Tencent slid 4.2% in afternoon trading on the stock market today. However, volume was lighter than average and
Tencent Holdings (TCEHY) shares fell 5.5% on the Hong Kong Stock Exchange after the Chinese online messaging giant Chairman and CEO Pony Ma Huateng sold 20 million shares over two days last week. Tencent stock has been on a tear in Hong Kong and over the counter in the U.S. since the company reported a 50% earnings gain in the fourth quarter on March 18. Even with U.S. shares dipping on March 18, they have soared 25% since those earnings to record
Chinese stocks are on fire on the stock market today, and online gaming company NetEase (NTES) is trying to break out. Other Chinese Internet stocks are making notable gains, including Alibaba (BABA), JD.com (JD), Tencent (TCEHY) and Autohome (ATHM). On the Hong Kong exchange, stocks hit a seven-year high Wednesday and record trading volumes were set. Watch this video for key IBD chart analysis of NetEase, Alibaba, JD.com, Tencent and Autohome.