Yesterday, China’s “Warren Buffett” Duan Yongping said on social platforms that he bought another 200,000 shares of Tencent stock. He wrote: "I bought 200k shares of Tencent between 41.05 and 41.1 today. I plan to buy slowly and just buy back the part I sold half a year ago."
It is understood that Duan Yongping bought Tencent Holdings ADRs (American Depository Receipts), not Tencent Hong Kong stocks.
Calculated at US$41 per share (approximately RMB 292), the amount of funds purchased by Duan Yongping this time is as high as 58.4 million yuan.
On October 25 last year, Tencent once fell below HK$200, a new low since March 2017. During Tencent's decline, Duan Yongping announced six times that he would buy Tencent at the bottom.
In January this year, Tencent’s stock price rebounded from the bottom and exceeded HK$400.