Tencent Becomes Market Laggard as China Traders Sell
- Onshore investors sold Tencent shares for two months in a row
- Concerns about volatility, earnings outlook dampen sentiment
This article is for subscribers only.
Tencent Holdings Ltd. has fallen out of favor with mainland Chinese investors burned by volatility and sentiment-driven trading. Getting them back on side may prove elusive.
For the first time since 2021, onshore investors have sold Tencent shares on a net basis for two months in a row, according to Bloomberg’s calculations of exchange data. In July, mainland investors offloaded HK$2.9 billion ($375 million) through trading links between Hong Kong, Shenzhen and Shanghai exchanges.