BUZZ-HK-listed Tencent at 6-week low as NBA fans in China seek refund

BUZZ-HK-listed Tencent at 6-week low as NBA fans in China seek refund
By Reuters

09/10/2019 at 09:32Updated 09/10/2019 at 09:33

** Shares of Tencent Holdings Ltd fall as much as 1.7% to HK$318.40, the lowest since Aug.

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** Stock tops the most actively traded shares in late trade.

** Some Chinese National Basketball Association (NBA) fans have asked for streaming subscription refunds from exclusive service provider Tencent amid a deepening free speech row, a move that could cause the tech giant financial pain.

** Tencent had said in July that nearly 500 million people watched last season's NBA games on the company's video platform, up threefold since the 2014-15 season.

** As of Tuesday's close, the stock had risen 3.1% this year.

** Tencent has underperformed the Hang Seng Commerce & Industry Index sector by 2.3 percentage points in the past one month.

** The Hong Kong Hang Seng sub-index tracking information technology firms falls 1.3%.

** The Hang Seng China enterprises index eases 0.1%, and the benchmark index slides 0.6%. (Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net, editing by Louise Heavens)

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