TENCENT Ticks Up 2.5%, Unbothered by Substantial Shareholder's Stake Cut
$TENCENT(00700.HK$ , unbothered by news of substantial shareholder cutting stake, received support at 20MA ($316.64) yesterday. It recouped 10MA ($322.6) today, peaking at $326. It last bounced back 2.5% to $324.8, on volume of 15.43 million shares, already close to the full-day volume of yesterday of 16.86 million shares.
$Prosus N.V. Sponsored ADR(PROSY.US$, a subsidiary of $NASPERS LTD ADR(NPSNY.US$, which is the major shareholder of TENCENT, released its financial results for the interim period ended September. Prosus offloaded 1% of its stake in TENCENT during April-September to 25% to cash in US$4 billion.
Also, during the period from October to 24 November, the Group sold more than 26.2 million shares of TENCENT, pocketing US$1 billion.
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wafflewolfeh : just now for a moment it spiked till 340 it's crazy haha
FeirreOP wafflewolfeh: yeah