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TENCENT Sinks 7.3% w/ Surging Deals After Being Added to US CMC List; Buyback Amt. Increases to $1.5B Tdy
TENCENT (00700.HK) was unexpectedly added by the US Department of Defense to the list of Chinese Military Companies (CMC). TENCENT clarified that it is not a Chinese military compa...
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TENCENT Sinks 7.3% w/ Surging Deals After Being Added to US CMC List; Buyback Amt. Increases to $1.5B Tdy
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TENCENT (00700.HK)  -2.600 (-0.680%)    Short selling $1.56B; Ratio 23.988%   was unexpectedly added by the US Department of Defense to the list of Chinese Military Companies (CMC). TENCENT clarified that it is not a Chinese military company and plans to initiate a Reconsideration Process to correct this mistake. During the process, the company will engage in discussions with the US Department of Defense to resolve any misunderstandings, and if necessary, will undertake legal proceedings to remove the company from the CMC List.

TENCENT's stock price plunged by 7.3% to end today (7th) at $379.6, on a turnover surging to $54.765 billion, making it the most actively traded stock on the Hong Kong market today.

Related NewsHaitong Int'l Predicts HK Stocks to Stabilize Before LNY; Focus on Techs as Main Theme for 1H25
After the market closed, TENCENT announced that it repurchased 3.93 million shares on the Hong Kong Stock Exchange today at prices ranging from $376.8 to $392.4 per share, involving $1.5 billion (compared to around $700 million in shares repurchased the previous day).

Since the resolution was passed, the company has repurchased nearly 240 million shares, accounting for about 2.54% of the issued share capital.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-01-17 16:25.)

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