0700.HK Stock Today: February 04 – Block Buy at HK$562.5 After Flash Drop
The Tencent stock price slid about 6% in Hong Kong on Feb 04 after a sharp air-pocket to HK$561, then staged a fast V-shaped rebound. We tracked 0700.HK flows showing a 10,400-share block buy at HK$562.5 and heavy bids queuing near HK$560. That order depth signals a near-term support area traders are watching. The move added pressure on the Hang Seng Index during morning trade, but dip-buying helped stabilize sentiment. We break down levels, signals, and what today’s action may mean for the next sessions.
Flash drop, block buy, and index impact
The Tencent stock price briefly hit HK$561 before rebounding. A 10,400-share HK block trade printed at HK$562.5, about HK$5.85 million, while thick bids stacked near HK$560. This visible demand helped steady the tape after the flush. The block was flagged by local market scanners source.
Tencent shares carry major index weight, so the selloff pressured the Hang Seng Index intraday. Local media noted the benchmark briefly slipped below yesterday’s low before bargain-hunters stepped in, tracking the rebound in the Tencent stock price source.
Key trading levels and technical read
Buyers showed up around HK$560, creating a near-term support zone. Overhead, HK$600 to HK$610 is the first resistance band. The lower Bollinger Band sits near HK$588.94, so the morning spike pierced volatility limits before mean-reverting. ATR near 12.52 points to wider swings. The Tencent stock price remains a trade rather than a trend.
RSI at 47.99 is neutral, while ADX at 17.17 indicates no strong trend. The MACD histogram at 2.25 versus a -2.10 signal hints at a potential turn if follow-through buying holds. Stochastic sits mid-range. For now, momentum is tentative. A firm close above HK$600 would help the Tencent stock price build traction.
Valuation snapshot and upcoming catalysts
On recent metrics, Tencent trades near 24.34x PE with EPS of HK$24.9 and a 0.77% dividend yield. Price-to-book is about 3.99x. The 50-day average is HK$611.47 and the 200-day is HK$577.77, so price action hovers around the long-term trend. This keeps the Tencent stock price sensitive to news and flows.
The next earnings announcement is scheduled for 2026-03-18. Results and any updates on advertising, gaming launches, and cloud margins will matter. We will also track buy-side demand around HK$560 and whether sellers defend HK$600 to HK$610. A clean break above resistance could reset the Tencent stock price path.
Trading and investment takeaways for HK investors
Day traders can frame risk around HK$560 support and HK$600 to HK$610 resistance. With ATR near 12 to 13, position sizing and 1 to 1.5 ATR stops help limit downside. A strong bid stack reappearing near HK$560 would favor bounces in the Tencent stock price on dips.
Over the past year, the stock gained about 43.74%. Meyka Stock Grade stands at B+ with a BUY suggestion, though factor details are mixed. PE-based signals skew cautious, while profitability metrics are stronger. Investors may prefer staged entries near support instead of chasing strength in the Tencent stock price.
Final Thoughts
Today’s tape shows buyers defending the HK$560 area after a sudden air pocket. A 10,400-share block at HK$562.5 and thick bids helped stabilize the Tencent stock price and ease pressure on the Hang Seng Index. For traders, HK$560 is the key line in the sand, with HK$600 to HK$610 the first upside hurdle. Momentum is improving but not confirmed, so discipline on entries and stops matters. For investors, valuation is mid-cycle and the 2026-03-18 earnings date is the next major checkpoint. We will watch whether demand persists on dips and if the Tencent stock price can reclaim the 50-day average to strengthen the setup.
FAQs
Why did the Tencent stock price drop on Feb 04?
Liquidity thinned and sell orders swept the book, pushing price to an intraday low near HK$561. A 10,400-share block then printed at HK$562.5, with heavy bids around HK$560 helping the rebound. Index weight amplified the move, pressuring the Hang Seng Index until buyers stepped back in.
Where is support and resistance for Tencent shares now?
Near-term support sits around HK$560, where thick bids appeared. Initial resistance is HK$600 to HK$610. ATR near 12.52 suggests wider swings, so allow some noise. A sustained close above HK$600 would improve momentum. A decisive break below HK$560 would weaken the setup for Tencent shares.
How does Tencent affect the Hang Seng Index?
Tencent’s large weight means sharp swings can move the Hang Seng Index. Today’s drop pulled the benchmark lower intraday. The V-shaped rebound helped sentiment stabilize. When the Tencent stock price moves quickly, index futures, ETFs, and related constituents often react in the same direction.
Is the Tencent stock price attractive for long-term investors?
Valuation sits near 24.34x PE with solid profitability metrics. Our Meyka Stock Grade is B+ with a BUY suggestion, though factor signals are mixed. Many investors prefer staged buys near support, like HK$560, and reassess after the 2026-03-18 earnings to confirm growth, margins, and guidance.
Disclaimer:
The content shared by Meyka AI PTY LTD is solely for research and informational purposes. Meyka is not a financial advisory service, and the information provided should not be considered investment or trading advice.