Ma Huateng reduced Tencent's cash holdings by more than 60 million

Tencent (00700.HK) executives have recently been reducing their shares. According to HKEx equity information, Tencent Chairman Ma Huateng reduced the shares of June 5 companies in 0.2304 million at a price of 71.075 Hong Kong dollars and cashed 16.376 million Hong Kong dollars, with the shares reduced from 12.65% to 12.64%. This is the fourth time that Ma Huateng reduced Tencent shares within 11 days. He reduced his holdings by May 26 Shares in 0.3 million, with an average price of 67.24 Hong Kong dollars. In May 30, he reduced his holdings by 50 thousand shares, with an average price of 69 Hong Kong dollars. In June 2, he reduced his holdings by 0.3 million shares and an average price of 69.016 Hong Kong dollars. A total of HK $60.69 million is provided for four times.

Recently, Tencent executives reduced their cash holdings frequently. Analysts believe that Tencent's share price has reached a high level in stages, and the withdrawal of executives is reflecting their judgment on the stock price.