Prosus slips in step with Tencent after China tech sell-off
Yesterday 09:59
BUZZ-Prosus slips in step with Tencent after China tech sell-off ** Shares in Prosus PRX.AS are down around 3%, tracking Tencent's 0700.HK 4% fall in Hong Kong
** Prosus, Tencent's largest shareholder, typically trades in lockstep with the Chinese technology giant, SBG Securities analyst Nadim Mohamed says
** Tencent has weakened alongside other Chinese tech stocks since last week's selloff, though Mohamed says the decline looked "a bit overdone as Tencent core business remains highly profitable"
** Including the session's fall, Prosus's stock has dropped 35% YTD
(Reporting by Zakarya Meliani)
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Prosus slips in step with Tencent after China tech sell-off