|Bid||382.200 x 0|
|Ask||382.400 x 0|
|Day's range||373.800 - 397.000|
|52-week range||198.600 - 488.000|
|Beta (5Y monthly)||0.56|
|PE ratio (TTM)||18.15|
|Earnings date||22 Mar 2023|
|Forward dividend & yield||1.60 (0.41%)|
|Ex-dividend date||20 May 2022|
|1y target est||407.48|
Beijing appears to be nearing the end of a two-year crackdown on the county’s big tech companies. Some of China's most well-known and influential internet companies have been forced to make significant changes. WSJ Asia tech reporter Liza Lin joins host Zoe Thomas to discuss the changes and whether authorities got the outcome they were hoping for.
China's end to a sweeping crackdown on its video games market is expected to breathe life back into the battered industry this year, but remaining restrictions on some content and economic headwinds will limit the extent of the recovery. Shares of Tencent, the world's largest gaming company, and NetEase rose this week after China's video games regulator granted the first gaming licences in 2023, the latest sign that the clampdown is ending.
Over the past two weeks, these companies have received quite a few positive signals from regulators, and many news headlines have been hailing Beijing’s tech crackdown as “officially” over. As I was drafting this newsletter, state media announced that China will soon launch a state-owned ride-hailing platform in response to “disorderly expansion and data security problems” in the sector. The report was soon interpreted as a clear sign that Beijing is continuing to exert control over the booming tech sector, despite what some overconfident investors may want to believe.