Tencent Holdings (TCEHY US)

Tencent Holdings (TCEHY US) $US61.61

On Monday, TCEHY tumbled over 7% as Trump weighed on China-facing stocks. Tencent leverages AI in gaming, cloud computing, and social media platforms (WeChat).

International Equities Portfolio – Amendments

International Equities Portfolio

The MM International Equities Portfolio had a positive week up by +0.41% including the impact of a stronger AUD which took a significant 2.13% away from portfolio returns.  Cash sits at 4% having added HCA Healthcare (HCA US) to the portfolio last week with the position rallying ~6% since purchase. Elsewhere, Wells Fargo (WFC US) +5.89% had a solid week on a good...

International Equities Portfolio

The MM International Equities Portfolio had a soft week down by -5.89%, pretty much in line with broader markets although the currency was a help. Cash sits at 9%.  PayPal (PYPL) was the weakest link down -14.5% however the banks in the US were also hit in line with our own, we own Wells Fargo (WFC) in the space which fell 13.95%. Chinese tech bounced with JD.com (JD US) +5.83% and Tencent (700 HK) +6.86%.

International Equities Portfolio

The MM International Equities Portfolio endured a tough week falling -2.7% with Trade Desk (TTD) -16.7%, Deere (DE US) -9.6% and Tencent (700 HK) -8.1% weighing heavily while Barrick (GOLD US) +6.7% and Glencore (GLEN LN) +3.5% were our best on ground.

International Equities Portfolio

The MM International Equities Portfolio added 3.75% during the week with cash at 8%. Amazon.com (AMZN US) falling -9.8% was the only negative, in the winners circle we saw Tencent (700 HK) +14.4%, JD.com (JD US) +18.2% and Alibaba (BABA US) +20.9% - overall a solid set of numbers.

Tencent Holdings Ltd (700 HK)

This Chinese tech giant which owns the likes of WeChat has been hammered over 60% very much shadowing Alibaba, the company’s also the world largest video game publisher and China’s 3rd largest cloud infrastructure platform i.e. it’s operating in all the right areas but China’s been a worry. The company now has to deal with unpredictable fines and restrictions on M&A...

International Equities Portfolio

The MM International Equities fell -2.03% last week with cash sitting at 9%. Our tech exposures provided the biggest weight, with both Tencent (700 HK) & JD.com (JD US) falling sharply, while Amazon (AMZN US) +10.9% and Deer & Co (DE US) +8.36% offset most of the decline, while a weaker AUD added +1.75%. If we are correct, the recent decline in tech will reverse very soon.

International Equities Portfolio

The MM International Equities Portfolio was higher over the course of the week the up by +1.32% including a negative impact from the higher Australian Dollar of -1.09%. Commodities remained strong which underpinned our position in Freeport-McMoRan (FCX US) which increased by +12.2% while Alibaba (BABA US) and Tencent (700 HK) were off 4-6% on the downside. For February, this portfolio was...

International Equities Portfolio

The MM International Equities Portfolio fell -3.84% during the week while cash remains at 4%. The main headwind on performance primarily came from the technology space, The Trade Desk (TTD) fell -12.23% while Amazon (AMZN US) was off -11.40%, although in the same sector Tencent (700 HK) rallied +5.76% while Barrick Gold (GOLD US) put on +6.47%.