Betting on Tencent Rally Post-Earnings Is a Profitable Play
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Tencent Holdings Ltd. investors will likely be celebrating tomorrow, if history is a guide.
The Chinese tech giant announced its fourth-quarter earnings on Wednesday after Hong Kong’s equity market closed. Tencent’s results typically provoke an outsized rally -- the stock climbed an average 1.8 percent on the day after the company’s quarterly releases in the past five years, compared with a gain of just 0.1 percent for the Hang Seng Index, data compiled by Bloomberg show.