Tencent shares have almost doubled in price since the October low
At the end of 2022, investors began to show great interest in Tencent shares again. As Bloomberg noted, since October 28, 2022, the share price of the Chinese holding has jumped by 96%.
According to the agency, the growth is associated with the softening of the Chinese authorities in relation to technology companies. Thanks to this, in January Tencent was able to return to the top ten most expensive companies in the world.
Recall that Tencent began to fall sharply in February 2021, when criticism of both technology and gaming companies intensified in China. On October 28, 2022, Tencent’s stock price dropped to a record low of $25.25 apiece.
