Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Hong Kong Stock Exchange  >  Tencent Holdings Limited    700   KYG875721634

TENCENT HOLDINGS LIMITED

(700)
  Report
End-of-day quote. End-of-day quote Hong Kong Stock Exchange - 01/19
655 HKD   -0.30%
04:38aGeely, Tencent Form Partnership on Smart-Vehicle Technologies
DJ
03:35aChina's Geely teams up with Tencent on smart car tech
RE
03:34aChina's Geely teams up with Tencent on smart car tech
RE
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

China buys first Indian rice in decades amid scarce supply

12/02/2020 | 06:20am EST
FILE PHOTO: Women plant rice saplings at a paddy field in a village in Nagaon district, Assam state, India

MUMBAI (Reuters) - China has begun importing Indian rice for the first time in at least three decades due to tightening supplies from Thailand, Myanmar and Vietnam and an offer of sharply discounted prices, Indian industry officials said.

India is the world's biggest rice exporter and China the biggest importer. Beijing buys in around 4 million tonnes a year but has avoided purchases from India, citing quality issues.

The rice imports come despite political tensions over a border dispute in the Himalayas which erupted into a clash in June in which 20 Indian soldiers were killed.

India has since tightened rules for investments from China and banned dozens of Chinese mobile apps, including from tech giants Tencent, Alibaba and ByteDance.

Although the public mood in India has been anti-China, the country has remained engaged with Indian businesses.

"For the first time China has made rice purchases. They may increase buying next year after seeing the quality of Indian crop," B.V. Krishna Rao, president of the Rice Exporters Association, told Reuters on Wednesday.

Indian traders have contracted to export 100,000 tonnes of broken rice for Dec-February shipments at around $300 per tonne on a free-on-board (FOB) basis, industry officials said.

China's traditional suppliers, such as Thailand, Vietnam, Myanmar and Pakistan, have limited surplus supplies for export and were quoting at least $30 per tonne more compared with Indian prices, according to Indian rice trade officials.

Thailand, the world's second-largest rice exporter and key supplier to China, suffered a drought this year that has affected the rice crop. Its shipments in 2020 could fall to 6.5 million tonnes, the lowest in 20 years.

"Thailand, Myanmar and Vietnam are struggling due to limited supplies. China eventually was left with no option but to buy from India," said Himanshu Agarwal, executive director at Satyam Balajee, India's biggest rice exporter.

"I don't know how long it will last. At least, movement has started."

China's General Administration of Customs did not immediately respond to a fax seeking comment on rice imports.

"China buying rice from India, or U.S. or any country, is just adding some flavor to the domestic market. The trade has very limited impact on the China market," said Yin Xiuying, analyst with trade website www.ChinaGrain.CN, based in Harbin, capital of China's northeastern province of Heilongjiang.

"I don't think China will increase rice imports or continue to buy more from India," Yin said.

(Reporting by Rajendra Jadhav; Additional reporting by Hallie Gu and Dominique Patton in BEIJING; Editing by Sanjeev Miglani and Alexander Smith)

By Rajendra Jadhav


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ALIBABA GROUP HOLDING LIMITED 2.39% 249.36 Delayed Quote.4.61%
TENCENT HOLDINGS LIMITED -0.30% 655 End-of-day quote.16.13%
ZR (ZR) - CBE (ELECTRONIC)/C1 1.40% 13.075 End-of-day quote.5.77%
All news about TENCENT HOLDINGS LIMITED
04:38aGeely, Tencent Form Partnership on Smart-Vehicle Technologies
DJ
03:35aChina's Geely teams up with Tencent on smart car tech
RE
03:34aChina's Geely teams up with Tencent on smart car tech
RE
01/18MARKET CHATTER : Tencent Joins $100 Million Funding Round for Chinese Education ..
MT
01/18MARKET CHATTER : Tencent-backed Kuaishou to Launch Hong Kong IPO Feb. 5
MT
01/18EQS-NEWS : HMVOD - The next Netflix growing up before our eyes
DJ
01/18MARKET CHATTER : Tencent-Backed Kuaishou to Unveil Financials Next Monday Ahead ..
MT
01/15China's Tencent buys audiobook platform Lazy Audio for $417 million
RE
01/15ANALYSIS : Investors resigned to Trump's China ban, with Biden seen changing lit..
RE
01/15Trump administration takes final swipes at China and its companies
RE
More news
Financials
Sales 2020 481 B 74 184 M 74 184 M
Net income 2020 128 B 19 762 M 19 762 M
Net cash 2020 71 100 M 10 976 M 10 976 M
P/E ratio 2020 49,6x
Yield 2020 0,21%
Capitalization 6 238 B 805 B 963 B
EV / Sales 2020 12,8x
EV / Sales 2021 10,2x
Nbr of Employees 77 592
Free-Float 60,4%
Chart TENCENT HOLDINGS LIMITED
Duration : Period :
Tencent Holdings Limited Technical Analysis Chart | 700 | KYG875721634 | MarketScreener
Technical analysis trends TENCENT HOLDINGS LIMITED
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 50
Average target price 577,18 CNY
Last Close Price 655,00 CNY
Spread / Highest target 7,85%
Spread / Average Target -11,9%
Spread / Lowest Target -46,1%
EPS Revisions
Managers and Directors
NameTitle
Hua Teng Ma Executive Chairman & Chief Executive Officer
Chi Ping Lau President & Executive Director
Yu Xin Ren COO & President-Interactive Entertainment Group
Shek Hon Lo Chief Financial Officer & Senior Vice President
Chen Ye Xu Chief Information Officer
Sector and Competitors
1st jan.Capitalization (M$)
TENCENT HOLDINGS LIMITED16.13%806 982
NETFLIX, INC.-7.91%220 005
PROSUS N.V.5.25%182 296
UBER TECHNOLOGIES, INC.8.86%97 924
NASPERS LIMITED12.89%95 374
SPOTIFY TECHNOLOGY S.A.1.64%60 633