Tencent’s Stock Woes Deepen as Mainland Investors Turn Sellers
- Mainlanders have sold $1.4 billion of Tencent so far in June
- Chinese traders had been net buyers of Tencent over past year
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Tencent Holdings Ltd., which has lost more than a fifth of its market value in the past few months, now appears to be losing its biggest supporter: Chinese investors.
Mainland traders have sold a net HK$11.2 billion ($1.4 billion) worth of Tencent shares so far in June, exchange data compiled by Bloomberg show. This would mark the first month of outflow for the $730 billion internet giant via the trading link with Hong Kong since May 2020.