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Tencent rises over 6% in Hong Kong after Q2 beats estimates

Thursday, August 18, 2016 - 10:18
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Shares of Tencent Holdings Ltd are set to open up 6.2 per cent to a record high on Thursday after quarterly earnings beat analysts' estimates.

[HONG KONG] Shares of Tencent Holdings Ltd are set to open up 6.2 per cent to a record high on Thursday after quarterly earnings beat analysts' estimates.

The stock is set to open at HK$205, while the benchmark index is set for a 1.1 percent rise.

Tencent's dominance of smartphones in China, especially in mobile gaming, helped the social network and online entertainment behemoth rack up a 47 per cent jump in second-quarter profit, beating analysts' estimates.

REUTERS