3 Chinese Stocks Are Down Big. Is It Time to Buy? | The Motley Fool

In today’s video, I look at why Chinese stocks are down big. The main culprit for the sell-off today was Prosus (OTC:PROSY), with its intention of selling some of its position of Tencent (OTC:TCEHY). Prosus is currently the biggest shareholder of Tencent, and the sell-off triggered a red flag for investors. Since there have been no fundamental changes to Chinese stocks, this event might be giving investors a chance to enter the Chinese market at a discount.

3 Chinese Stocks Down Big

  1. Tencent is a tech giant in China. It has holdings in numerous companies hitting different markets, including social, gaming, fintech, and online advertising. Tencent’s stock price is down 7.5% for the day and over 20% from its six-month all-time high.
  2. Huya (NYSE:HUYA) is one of the top e-sports live-streaming platforms in China. Huya’s stock price is down 4.46% for the day and over 40% from its six-month all-time high. 
  3. DouYu (NASDAQ:DOYU) is a competitor of Huya’s, and there are talks about a merger between the two, but it needs to be approved by regulators. Doyu’s stock price was down 2.35% for the day and over 40% from its six-month all-time high. 

Click the video below for my full thoughts. 

*Stock Prices used were the Midday prices of April 7, 2021. The video was published on April 8, 2021. 

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.

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