One side is facing shareholding reduction while repurchasing on the other side.
After June 28, two days later, $TENCENT (00700.HK)$Repurchased another 0.84 million shares, with a total repurchase of 2.5 million shares in 3 days, costing over 0.9 billion Hong Kong dollars.
By moving the clock forward, the cause of the matter was that a major shareholder in South Africa reduced its shareholding in Tencent, dealing a heavy blow to the Hong Kong stock market in the afternoon of Monday, causing Tencent's stock price to drop to 356 Hong Kong dollars on Tuesday.
How should we view the shareholding reduction? With Tencent's stock price currently around 350-400 Hong Kong dollars, is it overvalued, undervalued, or just at a normal market price?
Does it look familiar? On May 18th, Cai Xuetang published"Is Tencent's value of 360 expensive? Will there be a new 'story' in the next 10 years?"
At that time, weLooking at valuation indicators such as PE and PS, tencent's valuation has reached a historical low. Subsequently released financial reports also show that tencent's mainstream business has maintained steady growth.
After the financial report was released,After tencent's stock price hit a low of 330 Hong Kong dollars, it began to rebound rapidly, once again exceeding 400 Hong Kong dollars.
And from technical indicators，Looking at the Bollinger Bands, tencent's stock price has basically maintained a narrow range of oscillation trend in the past four months.Obviously, this time tencent's stock price has withstood the market test.
No major concerns in business, valuation is not considered expensive, technical trends are normal, all these can be recognized as important factors supporting tencent's stock price.
At this point, investors should understand thatReally...