Tencent Holdings Ltd

Tencent profits plunge as Chinese tech giant grapples with Covid lockdowns, regulation

Tencent profits plunge as Chinese tech giant grapples with Covid lockdowns, regulation

Signage for Tencent Holdings atop an office building in Shanghai, China, on March 22, 2022. China’s Tencent reported on Wednesday its quarterly profit halved from a year ago and revenues stagnated, blaming cuts in advertising spending by consumer, e-commerce and travel businesses for its worst performance since it went public in 2004. Qilai Shen | …

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Asia markets sell off as Hong Kong's Hang Seng falls more than 2% and Tencent shares plunge

Asia markets sell off as Hong Kong’s Hang Seng falls more than 2% and Tencent shares plunge

SINGAPORE — Most Asia-Pacific markets fell sharply in Thursday trade after heavy losses on Wall Street overnight. Hong Kong’s Hang Seng index was among the biggest losers regionally, falling 2.45% in afternoon trade. Shares of Chinese tech behemoth Tencent plunged 6.51% after reporting that its quarterly profit halved. Other Chinese tech stocks in Hong Kong …

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Shares of Shopee-owner Sea surge 14% after stronger-than-expected revenue

Shares of Shopee-owner Sea surge 14% after stronger-than-expected revenue

Shares of Southeast Asia’s e-commerce and gaming firm Sea Group popped after its first-quarter revenue beat analysts’ expectations on Tuesday. Sea’s U.S.-listed shares rose 14% to close at $80.21 after the of Singapore-based internet firm reported revenue that exceeded analysts’ expectations in the first quarter this year. Here’s how the New York Stock Exchange-listed company …

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