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Benzinga
Benzinga
Technology
Anusuya Lahiri

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

Tencent China Warren Buffet BABA (Organization) TCEHY Alibaba Group Holding Ltd Beijing Hong Kong NYSE Russia
  • A mainland billionaire investor has placed heavy orders on Tencent Holdings Ltd (OTC: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 (NYSE: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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