Tencent Shares Risk Losing Support Level as Losses Accelerate
- Stock falls to HK$320, which has provided support in 2019
- Chinese Internet giant due to report 3Q results mid-November
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Tencent Holdings Ltd.’s shares are dangerously close to losing a key support level.
The biggest stock in Asia fell 2.3% in Hong Kong despite no immediately apparent trigger. Theories circulating round some trading floors included souring sentiment from investors in China, as well as concern that Tencent’s decision to air National Basketball Association games may backfire.