Tencent worried as no particular trigger seen in aggressive sell-off
Adding to jitters is a local media report that China is considering revising a law to control young people’s online gaming activities
24 October 2019 - 11:49
Hong Kong — Tencent’s sell-off may get a lot worse after the shares failed to hold above their key support level.
Asia’s biggest stock, of which Naspers owns just less than a third, closed down 0.3% in Hong Kong on Thursday, despite an otherwise upbeat market in the city. Tencent is now trading below the key level of HK$320 that supported its shares on three occasions in 2019. The stock has lost about 20% since a peak in April, equivalent to about $93bn in market value...
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