Hong Kong: Shares rebound as Tencent halts sharp slide

[HONG KONG] Hong Kong shares rebounded on Wednesday following the previous session's slump, helped by consumer and financial stocks and as index heavyweight Tencent Holdings Ltd bounced from a seven-week low.

The Hang Seng index rose 0.5 per cent to 25,521.97, while the China Enterprises Index gained 0.7 per cent to 10,380.73 points.

Most sectors rose, with financials and consumer stocks leading the gains.

Tencent, whose heavy losses on Tuesday contributed to Hang Seng's sharp fall, stabilised on Wednesday, after the company shrugged off concerns that a move to limit play time for some users of its top-grossing "Honour of Kings" game could hurt its bottom line.

REUTERS