Tencent Shares Rise to Record After Company Posts 85% Net Gain
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Tencent Holdings Ltd., operator of China’s biggest Internet-chat service, rose to a record in Hong Kong trading after the company reported an 85 percent increase in second-quarter profit
Tencent climbed 7.7 percent to HK$121.80 as of 10:09 a.m. on the city’s stock exchange, compared with a 1.6 percent gain in the benchmark Hang Seng Index. Net income climbed to 1.19 billion yuan ($174 million) from a year earlier, the Shenzhen, south China-based company said in a stock exchange filing yesterday.