SPY441.40-4.34 -0.97%
DIA345.64-1.80 -0.52%
IXIC15,043.97-137.96 -0.91%

BUZZ-Tencent hits over 5-week high after share buyback; tech stocks jump

reuters.com · 09/01/2021 23:17
BUZZ-Tencent hits over 5-week high after share buyback; tech stocks jump

** Shares of Chinese gaming and social media giant Tencent Holdings Ltd TCEHY rise 4.4% to HK$510, their highest since July 26 and extending gains to a third session

** Stock on track for its biggest daily pct gain since Aug. 24; second-biggest pct gainer on both the Hang Seng Index .HSI and Hang Seng Commerce & Industry Index .HSNC

** Tencent bought back 210,000 company shares in the open market for HK$102.5 mln ($13.2 mln) on Wednesday - Hong Kong bourse filing nP8N2Q002A

** Chinese tech stocks rebound from recent sell-offs fuelled by concerns over regulatory crackdown

** China has imposed a flurry of regulations and penalties over the past year, affecting sectors ranging from gaming to education to e-commerce nL1N2PP031

** Shares of Koolearn Technology KLTHF jump 13.5% to HK$5.29, their highest since Aug. 11

** Kuaishou Technology 1024.HK surges as much as 11.4%, Bilibili BILI rises 7.8% and Alibaba BABA up 4.1%

** The Hong Kong Hang Seng Commerce & Industry Index .HSNC surges 1.7%, and the Hang Seng Tech Index .HSTECH jumps 2.4%

** The Hang Seng China Enterprises Index .HSCE rises 1.3%, and the benchmark index .HSI climbs 0.8%

** As of last close, Tencent stock down 13.4% this year


($1 = 7.7751 Hong Kong dollars)


(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))