China Tech’s Deepening Valuation Slump Fails to Win Back Buyers

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Takeaways by Bloomberg AI

The selloff in China’s biggest internet firms has driven some valuations to record lows but investors say a recovery still looks a way off given the many headwinds they face.

The 27% slide in Tencent Holdings Ltd.’s shares this year has pushed down its price-earnings ratio to an all-time low of 11 times, below that of Hong Kong-based utility CLP Holdings Ltd. Alibaba Group Holding Ltd.’s stock tumbled more than 20% in June alone, putting its valuations at the lowest in almost a year.

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