Tencent’s Two-Day Selloff Wipes Out $52 Billion in Market Value - News Summed Up

Tencent’s Two-Day Selloff Wipes Out $52 Billion in Market Value


Tencent Holdings Ltd.’s shares slumped again Friday, taking its fall in the past two days to 9.2%, as investors reassessed the Chinese tech giant with one of its biggest shareholders set to sell almost $10 billion worth of its position. The two-day drop for Asia’s most valuable company has wiped out $52 billion of its market value. It comes at a sensitive time for global technology stocks, which have fallen sharply this week on data-privacy concerns swirling around Facebook Inc....


Source: Wall Street Journal March 23, 2018 02:05 UTC



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