'China's Warren Buffet' Places Orders For Over $5M Tencent's Shares

March 1, 2022 11:47 AM | 1 min read | Make a Comment

A mainland billionaire investor has placed heavy orders on Tencent Holdings Ltd TCEHY, Bloomberg reports.
Duan Yongping, a billionaire entrepreneur dubbed China's Warren Buffet by Chinese media, has placed orders for more than $5 million of Tencent's U.S. listed shares.
The share prices rallied in Hong Kong, making up for some of the global selloff in risky assets following Russia's invasion of Ukraine and Beijing's fresh scrutiny of rival Alibaba Group Holding Ltd's BABA fintech arm.
Previously, Yongping bought the stock in August, when it slumped to a near 13-month low.
Price Action: TCEHY shares traded higher by 1.13% at $54.38 in the market on the last check Tuesday.

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