In the latest trading session, Tencent Holding Ltd. (TCEHY) closed at $62.83, marking a +0.08% move from the previous day.
While U.S. stocks continue notching record highs, shares of Chinese companies keep walking backward. The SPDR S&P China ETF (NYSEMKT: GXC), which tracks the performance of major Chinese companies listed in the U.S. and China, is down 9.5% year to date versus the S&P 500's gain of 20%. For long-term China bulls, though, this marks an opportunity to buy the dip.
(Bloomberg) -- Most Read from BloombergA Deep Dive Into Squid Game's World of InequalityMeet Six People Fighting Water Scarcity Across the GlobeHamburg Is at the Heart of Germany’s Growing Dilemma Over China(This story was originally published on April 19, 2021. Bloomberg News is republishing our in-depth look at Evergrande’s EV business after Chairman Hui Ka Yan said he plans to pivot the property developer to new energy vehicle operations.)China Evergrande New Energy Vehicle Group Ltd.’s expan