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Chinese tech stocks slid after the Financial Times reported SoftBank was selling down its Alibaba stake, on the heels of Netherlands investor Prosus flagging some selling of its Tencent stake on Wednesday.
Source: https://business.inquirer.net/395744/stocks-and-gold-cheer-u-s-inflation-picture-while-dollar-slides
Prosus Falls by Record as Tencent Slumps on China Gaming Curbsbloomberg.
Tencent has since been placed under Naspers’ international investment unit, Prosus, to reduce the discount it trades at relative to the value of the investment.
Source: https://mybroadband.co.za/news/business/487041-best-south-african-shares-over-20-years.html
The Bengaluru-headquartered startup — backed by Fidelity, Prosus, SoftBank, Sequoia India and Meta — said in a statement that it is looking to “work with a leaner organizational structure to achieve sustained profitability.”
Source: https://techcrunch.com/2023/05/04/india-meesho-cuts-251-jobs/