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Tencent wins approval to distribute Nintendo Switch video game in China

China’s biggest game publisher Tencent Holdings has received approval to distribute a Nintendo Switch game on the mainland, paving the way for the Japanese video game maker to bring its latest console to the world’s biggest gaming market.Tencent has been given permission to distribute Nintendo’s “New Super Mario Bros. U Deluxe” game, according to an announcement on the website of Guangdong Provincial Department of Culture and Tourism on Thursday.Nintendo has submitted a request to the Chinese… Source link

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Tencent shares rise after game is approved, but tech giant can’t keep Hong Kong gauge from slipping below 30,000 mark

Hong Kong and mainland China stocks on Thursday recorded their biggest daily declines since March 25, defying a rise in inflation to safer levels in China amid continued concerns about global growth.On the mainland, the Shanghai Composite Index extended losses through the day to end down 1.6 per cent at 3,189.96, while the CSI 300 Index of large caps listed in Shanghai and Shenzhen shed 2.16 per cent to 2,997.58.In Hong Kong, the Hang Seng Index closed below the 30,000 mark, which it had been… Source link

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Panda TV’s demise makes way for gaming giant Tencent to dominate live streaming too

Last August, Wang Sicong showed up on his live streaming network Panda TV to play a game of League of Legends for his e-sports team. The flamboyant son of Wang Jianlin, one of China’s richest men, did not do great, but his team won. The professional match ended up getting a peak of 50 million concurrent viewers, according to Panda, setting a record for the platform.To give some context, the record for an individual’s live stream on US-based Twitch was 628,000 concurrent viewers, when Fortnite… Source link

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Investment 

Tencent Holdings to buy back 10 per cent of shares to shore up stock price

Tencent Holdings, operator of China’s biggest social media and video gaming business, has proposed to buy back 10 per cent of its shares in a bid to shore up its share price.Tencent, which has the biggest weighting of 9.9 per cent on the Hang Seng Index, said in a filing to the Hong Kong stock exchange that the repurchase is subject to shareholder approval during the annual general meeting on May 15.The Shenzhen-based company currently has a total of 9.52 billion shares in circulation.Shares of… Source link

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Stocks Blog: All eyes on Tencent after results miss overnight

Happy Friday! And welcome to the South China Morning Post’s Live Stocks Blog. Each trading day, we will provide investors with timely news and analysis about markets in mainland China and Hong Kong, including significant moves in benchmarks and individual shares as well snapshots of companies, sectors, trends and markets-impacting government policy. (Stock trading involves judgment calls and risks that the SCMP cannot be held responsible for.) It was a busy after-market hours night, and… Source link

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Tencent to advance investments in core infrastructure, frontier technologies amid video gaming slowdown

Tencent Holdings, operator of China’s biggest social media and video gaming businesses, will step up its investments in core infrastructure and frontier technologies to advance its strategy for the industrial internet, while continuing to drive the evolution of consumer-based internet services.“Utilising our innovation and technology capabilities, we seek to assist a range of industries in undergoing digital upgrades and transformation,” the company said in its regulatory filing on Thursday… Source link

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Tencent seeks new growth in year of transition as consumer businesses mature

Depending on whom you talk to, 2018 was either a bumper year for Tencent Holdings or a year to forget.The first Asian company to breach US$500 billion in market cap, the internet giant’s shares rose to an all-time high in January 2018, powered by its money-minting video games business and ubiquitous WeChat super app. Then came a much-chronicled government crackdown on content and gaming, which abruptly ended the party and wiped out almost half the company’s value by October.Tencent’s roller… Source link

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Tencent to consider bid for US$3 billion AS Watson stake, as rival Alibaba shows interest

Chinese internet giant Tencent Holdings is weighing a bid for part of Temasek Holdings’ stake in global retailer AS Watson Group, people with knowledge of the matter said.The Singapore state investment company is considering selling around a 10 per cent stake in the world’s largest health and beauty retail group for about US$3 billion, according to the people, who asked not to be identified because the information is private. That is just under half of its 25 per cent holding.Shenzhen-based… Source link

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Tencent clawing its way back from cliffhanger year, winning rave analyst reviews ahead of earnings

With the nail-biting heroics of one of its video games, Tencent has seen its shares hit an all-time high, slide off a cliff, then claw themselves halfway back up – all in a matter of 14 months.Now – with new Tencent games approved to slowly roll out again after China’s industry-wide crackdown and a blizzard of new tech deals added to its huge investment portfolio – the online giant is attracting rave reviews from analysts ahead its fourth-quarter and annual results on Thursday evening Hong Kong… Source link

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China’s tech economy faces huge risks if basic science research ignored, warns Tencent founder Pony Ma

Chinese technology tycoon Pony Ma Huateng, the founder and chief executive of internet giant Tencent Holdings, emphasised the importance of basic science to establish a solid foundation in technology, warning of the huge risks faced by the country’s tech development if it is ignored.“Our achievements are like tall buildings built on the beaches. If the foundations [of basic science research] are not solid, the future risks are very high,” Ma said in an interview with China’s state-run CCTV… Source link

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