Chinese mutual funds' holdings in Tencent (HKG:0700) outranked that of Contemporary Amperex Technology (SHE:300750) as of the end of March, the South China Morning Post reported Wednesday, citing TX Investment Consulting.
The rise in Tencent holdings indicates investors' desire for more Hong Kong-listed shares, the report said.
A total of 1,186 Chinese mutual funds held 151 million shares of Tencent worth 69.38 billion yuan, dislodging CATL's 55.37 billion yuan of shares held by 1,267 mutual funds, the report said.
Kweichow Moutai (SHA:600519) is in third with 746 funds holding 378.62 million yuan of shares, while Alibaba (HKG:9988) is at fourth with 651 funds owning 33.95 billion yuan of shares, the report said.
Other Hong Kong-listed firms, such as China National Offshore Oil Corporation (HKG:0883, SHA:600938), China Mobile (HKG:0941, SHA:600941), Meituan (HKG:3690), Pop Mart (HKG:9992), Semiconductor Manufacturing International (HKG:0981, SHA:688981), and Xiaomi (HKG:1810), are in the top 50 preferred shares by Chinese mutual funds, the report said.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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