A woman walks past a display showing stock exchange data in Shanghai. Chinese tech stocks like Alibaba and Tencent have surged in recent weeks on improving business outlook. Photo: EPA-EFE
A woman walks past a display showing stock exchange data in Shanghai. Chinese tech stocks like Alibaba and Tencent have surged in recent weeks on improving business outlook. Photo: EPA-EFE

Tencent, Alibaba earnings reports brighten outlook for tech giants as bets on China reopening draw more funds

  • Tencent Holdings returned to profit growth in the third quarter after posting declines over the past two quarters
  • While Alibaba posted a net loss of 20.6 billion yuan, it was profitable under the Chinese accounting standard as net income rose 19 per cent

A woman walks past a display showing stock exchange data in Shanghai. Chinese tech stocks like Alibaba and Tencent have surged in recent weeks on improving business outlook. Photo: EPA-EFE
A woman walks past a display showing stock exchange data in Shanghai. Chinese tech stocks like Alibaba and Tencent have surged in recent weeks on improving business outlook. Photo: EPA-EFE
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