While international stocks have been quite tumultuous this year, the story of South African investment company Naspers (OTC: NPSNY) and its associated investee, Prosus (OTC: PROSY), keeps getting better. While investors in this conglomerate have had a difficult few years, both Naspers and Prosus have greatly outperformed both the KraneShares CSI Chinese Internet ETF (NYSEMKT: KWEB) as well as the Vanguard FTSE Emerging Markets ETF (NYSEMKT: VWO) over the past six months. The largest asset of the combined company is its 27.3% ownership in Chinese internet giant Tencent (OTC: TCEHY), which accounts for about 75% of the portfolio.
(Bloomberg) -- Meituan posted a 28% surge in revenue, affirming resilient demand in China for takeaway from people confined to home during the pandemic.Most Read from BloombergNext Covid-19 Strain May be More Dangerous, Lab Study ShowsApple to Lose 6 Million iPhone Pros From Tumult at China PlantKey Trump 2024 Rivals Silent After His White Supremacist MeetingSales rose to 62.6 billion yuan ($8.7 billion) during the three months ended September, versus an average projection for 62.4 billion yuan.
China’s top gaming industry association declared that the problem of children’s video gaming addiction has been “resolved”, the clearest signal so far that Beijing will ease its curbs on the approval of new titles. China’s Game Industry Group Committee, which is affiliated with the government’s gaming regulatory body, released a report on Tuesday that found 70 per cent of minors played less than three hours of games a week. “Minors’ gaming addiction has been basically resolved,” the body wrote in a report co-authored by Beijing-based research body CNG.