News Snapshot:
Tencent shareholders added $7.6bn in shares to Hong Kong’s clearing and settlement system, prompting hypothesis that its largest shareholder, South African group Naspers, was promoting a part of its 29 per cent stake.The transfer comes two months after Prosus, the corporate’s Amsterdam-listed worldwide funding arm, deserted its pledge to not promote inventory in Tencent, considered one of China’s most precious firms. Global buyers are reducing their holdings in Chinese expertise shares following a authorities crackdown and regulatory onslaught that has bruised the sector. The S&P China Tech 50 index, which tracks the 50 largest Chinese firms within the sector, is...
