Tencent posted a 3% rise in third quarter profit, beating analyst expectations even as it flagged heightened regulatory scrutiny and a slowdown in advertising.
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China’s biggest Internet companies, their shares beaten down by government regulation this year, have a new catalyst to lure buyers: semiconductors.
Tencent has unveiled its first chips, showcasing a year-long foray into silicon design as the Chinese tech giant seeks to grow beyond digital entertainment.
Tesla’s ascent into the most exclusive of corporate clubs – the $1-trillion capitalisation set – has investors guessing on which company will be the next to join.
China will continue its scrutiny of the Internet sector, its industry minister said in an interview published on Sunday.
Tencent allowed users of its main WeChat social media service to link to rivals’ content, taking initial steps to comply with Beijing’s calls to end walled gardens.
Tencent Holdings is set to lose its place among the world’s 10 largest companies by market value, leaving no Chinese names in the list.
Tencent and NetEase shed more than $60-billion of value on Thursday as investor fears grow that Chinese regulators are preparing to tighten their grip dramatically on the world’s largest gaming industry.
Chinese gaming and media stocks including Tencent and NetEase fell on Thursday, a day after authorities summoned them to ensure they implemented new rules for the sector.
Tencent investor Prosus – the spinoff of JSE-listed technology and media conglomerate Naspers – is placing its bet on India as the next big technology market.