Tencent Looks Abroad as Beijing Tightens the Screws at Home


Source: indiatimespost.com indiatimespost.com

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China’s Tencent TCEHY -4.12% has lost $411 billion in market value since January as regulatory concerns pummel the stock. Going abroad could be a way to keep growing without so much political risk—particularly for games, which haven’t shown up on foreign regulators’ radar the way social-media platforms like TikTok have. The Chinese social-media and game company on Tuesday reported a 34% year-over-year gain in operating profit to $8.1 billion for the quarter ending in June, better than analysts’ consensus on S&P Global Market Intelligence. However, that was helped by a large one-off $3.2 billion investment gain from disposals and valuation...