Tencent Shares Set To Slide After First Quarterly Profit Fall In 13 Years

56

HONG KONG – Shares of Chinese technology giant Tencent Holdings were set to slide 4.8 percent on Thursday after it reported its first quarterly profit fall in nearly 13 years and said it had no clarity on when it may get China approval for its most popular game.

Tencent’s shares, which have dropped 13.5 percent so far this week, were set to open at HK$320. Shares of South Africa’s Naspers, which owns a 31 percent stake in Tencent, slid 8 percent after the results were announced on Wednesday.

(Reporting by Anne Marie Roantree; Editing by Edwina Gibbs)




Leave a Reply

Your email address will not be published. Required fields are marked *