Tencent Holdings Stock News

BEIJING: Shares in Alibaba slumped more than five percent on Tuesday following a report that Beijing regulators had ordered a fresh investigation into state firms'' links with the Chinese e-commerce giant''s fintech arm Ant Group. China''s biggest state-owned firms and banks were told to begin a new round of checks on their financial exposure and other links to Ant and its subsidiaries, Bloomberg reported, in another blow to the beleaguered company and Alibaba''s billionaire co-founder Jack Ma. Since late 2020, Chinese regulators have launched a wide-ranging crackdown on alleged anti-competitive practices by Alibaba and other domestic tech giants, which saw a record-breaking planned IPO by Ant Group pulled at the last minute. US adds e-commerce sites operated by Tencent, Alibaba to ''notorious markets'' list Bloomberg described the fresh investigation as "by far the most thorough and wide-ranging look into deals with Ant", citing anonymous sources familiar with the matter. It is unclear what triggered the fresh scrutiny, the report said.

Shares in Alibaba, Tencent, Meituan and other tech firms dropped as the Hang Seng Tech Index is set for its lowest close since July 2020.

Hong Kong stocks slumped by the most in three weeks on mounting concerns amid speculation Chinese technology companies are facing another round of regulatory restrictions. HSBC slid before its earnings report.The Hang Seng Index sank 2.5 per cent to 23,565.54 at 10.35am local time. The Tech Index retreated 2.4 per cent to a new record-low as losses over three days snowballed to almost 8 per cent.The Shanghai Composite Index dropped 1.2 per cent. Electric-car battery maker Contemporary Amperex

Traders pointed to everything from warnings from regulators over the weekend about scams in the metaverse

Prosuss share price has been under pressure since July 2021 when China launched a wide-ranging crackdown on technology companies

Chinese Tech Stocks Suffer Biggest 2-Day Rout Since July Amid Fears Beijing Will Unleash More Crackdowns While not directly impacted by the sharp crisis escalation in Ukraine or fears of multiple rate hikes by the Fed, Chinese tech shares suffered their worst two-day drop since July following renewed fears Beijing may roll out more restrictions for private enterprise. Shares of China''s tech giant, Tencent, sank 5.2% on Monday, hammered by speculation about an unspecified, impending crackdown on Chinas largest social media and gaming firm that company spokesman Zhang Jun later denied. Traders pointed to everything from warnings from regulators over the weekend about scams in the metaverse to talk about yet more curbs on the gaming industry. Zhang said the online rumors were unfounded, without elaborating. Amid the rout, Tencents head of public relations Zhang Jun denied online speculation that its facing a major regulatory crackdown, issuing an unusually aggressive public response after fears of more tech-sector restrictions tanked markets on Monday.

BTC price action nears $37,000 as Chinese tech stock pressure adds to a bad week for Bitcoin and crypto.

Tencent Holdings Ltd. denied online speculation that its facing a major regulatory crackdown, issuing an unusually aggressive public response after fears of more tech-sector restrictions tanked markets on Monday.

Chinese regulators warned over investment fraud schemes linked to the metaverse, raising the prospect of wider scrutiny on the emerging space.

Amid fears of further crackdown.

Chinese technology shares slumped for a second session Monday -- on course for their worst two-day drop since July -- thanks to renewed fears Beijing may roll out more restrictions for private enterprise.

Tencent Leads China Tech Selloff Amid Fears of Further Crackdown

Hong Kong stocks fell to a two-week low amid concerns new regulations will hurt the outlook for corporate earnings as companies including HSBC, Alibaba Group Holding and NetEase prepare to issue their report cards.The Hang Seng Index retreated 0.6 per cent to 24,175.46 at 10.45am local time. The Tech Index declined 1.4 per cent, while the Shanghai Composite Index lost 0.4 per cent.Alibaba tumbled 2.8 per cent while Tencent slipped 2.7 per cent. Bourse operator Hong Kong Exchanges & Clearing

Polen Capital, an investment management firm, published its Polen Global Growth fourth quarter 2021 investor letter a copy of which can be downloaded here.

E-commerce sites operated by China''s Tencent and Alibaba Group were added to the US government''s latest "notorious markets" list, the US Trade Representative''s office said Thursday.