Courtesy of AAStocksAfter 5 days of positive gains, HSTI has close negative for today, at -2.51%.
Referring to my previous post, I believe the overselling in Tencent would create an opportunity for one to enter as the WeChat population in US is not that big and the US officials came out and say that it is only for WeChat and not its gaming channels. Though the risk of the gaming channels may be the next target by the US government, there are some potential swing in price action for Tencent for the next few trading days. What would China do in this hostile situation?
Today's biggest winner is BYD where it went up by an impressive +5.016% when HSI and HSTI was really hammered primarily due to the news on US banning US transactions with TikTok and WeChat in 45 days time. Meituan also did a reversal for today, within its low at 208, it managed to close positive at 222.40, with an intraday gain of +6.92%!
With the headlines flashing WeChat and TikTok, we would have thought that Tencent would be the biggest loser for today. Tencent did at one point in time, dropped 10% and breaking the 500 mark, touching 499.4 before rebounding back up after lunch hour. Today's biggest loser is actually SMIC where it closed -8.702%.
Referring to my previous post, I believe the overselling in Tencent would create an opportunity for one to enter as the WeChat population in US is not that big and the US officials came out and say that it is only for WeChat and not its gaming channels. Though the risk of the gaming channels may be the next target by the US government, there are some potential swing in price action for Tencent for the next few trading days. What would China do in this hostile situation?
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Courtesy of AAStocks
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