Tencent (TCEHY) Move Higher: Free Cashflow & U.S. Dollar Weakness

Tencent Holdings (TCEHY) is a Chinese multinational technology and entertainment conglomerate. It is one of the highest grossing multimedia companies in the world based on revenue. The TCEHY stock price is up over 5% today following their recent earnings report. China’s slowing economy dented their video game demand and advertising budgets which impacted companies like Tencent. George Tsilis joins Jenny Horne and Alex Coffey to discuss the surprising TCEHY stock move to the upside. Tencent recently pledged to give away the majority of its shares in a meal delivery company, Meituan. “The TCEHY stock price increase is likely due to the weakness in the U.S. Dollar and the business having a lot of free cashflow,” Tsilis adds.