14580
Tencent Drops
World Economy

Tencent Drops

Tencent Holdings Ltd. slumped for the first time in 10 days after billionaire Chairman Ma Huateng cut his stake in the operator of Asia’s most-popular message services. The stock fell 4.4% to HK$163 ($21) at the trading break in Hong Kong, the most in almost a year. The benchmark Hang Seng index declined 0.5%, Bloomberg reported. Ma, China’s third-richest person, cut his stake to 9.65% from 9.86 percent and raised a combined HK$3.22b ($415m), according to filings to the Hong Kong stock exchange Monday. Selling shares sent a signal to investors to withdraw from the stock after a 62% surge in the 12 months through Monday, Louis Tse, a Hong Kong-based director of VC Brokerage Ltd., said Tuesday.

Short URL : http://goo.gl/cVypu7

You can also read ...

Romania Economy and Formula 1
According to National Bank of Romania advisor Lucian Croitoru...
Gazans on Edge of Economic Collapse
Across the 140-square-mile territory, Gazans are struggling to...
Most vulnerable countries include Turkey (high current-account deficit) and nations such as Saudi Arabia that are pegged to the dollar.
Two months ago, when the US benchmark 10-year treasury yield...
Philippines, New Zealand and Singapore have achieved greater gender equality in the workplace.
Hiring more women could supercharge Asia’s economies. A report...
French PMI Weakens
French industrial morale weakened slightly in April compared...
Global Cybercrime Generating $1.5t in Illicit Profits
New criminality platforms and a booming cybercrime economy...
The government is working on the culture of workaholism and is considering legislation that would cap the total amount  of overtime a worker could do at 100 hours a month.
All is not well in the Land of the Rising Sun. Japan, a...
EC Investigates Apple-Shazam Deal
Apple’s $400 million acquisition of music identification...

Trending

Googleplus