For the first time in its eighteen years as a publicly-traded company, Tencent revealed a fall in quarterly revenue yesterday. The Chinese economy’s slowdown as well as increased regulation may be the culprits.
Wednesday’s Asian trading was a mixed bag today as interest rate concerns troubled traders, and the gaming industry in China is facing significant government challenges.
In face of the financial fears caused by inflation and the geopolitical tensions around the world, key Asian indices like Nikkei225 and Hong Kong’s Hang Seng were able to soar on Wednesday.
The Hang Seng index dropped on Wednesday as China's technology sector faced up to new government regulations and a tech drop overseas. The trading distress even reached beyond China's borders, as Singapore's Sea Ltd. was hit with a selloff as well.
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