News Snapshot:
Sea, owner of Shopee e-commerce platform, reports wider loss after Tencent cuts stake, Temasek and Bridgewater jump in – 24HTECH.ASIA Sea Limited, owner of Southeast Asia’s biggest e-commerce platform Shopee, recorded wider losses amid a myriad of market challenges. Its stock has slumped as Tencent Holdings sold, while big guns like Temasek Holdings to Bridgewater Associates jumped in. The Tencent-backed consumer technology group said net loss more than doubled to US$931.2 million in the second quarter, missing consensus estimates of about US$655 million based on Refinitiv data. Revenue jumped 29 per cent to US$2.9 billion, driven by a 51 per...
