Fundamentally, the main issue for Tencent is China’s weakened consumer economy. It’s a circumstance analysts have been warning about since well before the recent downturn.
One bad signal was that Chinese consumers were starting to become thrifty, posing challenges for growth targets. Now that we may be looking at a global recession, folks will likely abandon TCEHY.$TENCENT(00700)$ $Tencent Holding Ltd.(TCEHY)$
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