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Tencent Churn Has Hong Kong Investors Feeling Sickly

Tencent Churn Has Hong Kong Investors Feeling Sickly

Tencent Holdings Ltd. is Hong Kong’s bread and butter. The owner of WeChat seems to be unstoppable, even after Naspers Ltd. dumped $10 billion of shares in March. Outsized trading volumes are perhaps one reason why Hong Kong Exchanges & Clearing Ltd. is begging high-tech startups to list in the city.