Tencent Falls to 7-Month Low After Profit Misses Estimates
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Tencent Holdings Ltd., China’s biggest Internet company by revenue, fell to the lowest level in more than seven months in Hong Kong trading after reporting second-quarter profit that missed analysts’ estimates.
The company dropped as much as 7.6 percent to HK$176.10, the lowest intraday price since Jan. 4, and traded at HK$180.70 as of 10:24 a.m. local time. The stock is the worst performer on Hong Kong’s benchmark Hang Seng Index today.