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Hong Kong shares flat as US-yield fears eclipse Tencent rally

AIA Group and mainland financial stocks drag on the Hang Seng Index

HONG KONG (Nikkei Markets) -- Hong Kong shares were little changed by noon on Thursday, as persistent weakness for the city's currency and rising U.S. bond yields overshadowed a rally by heavyweight Tencent Holdings after it reported better-than-expected results.

Social-media and gaming major Tencent, the most-valuable company listed in Hong Kong, had climbed 5.1% by the midday break after it reported a 61% surge in March quarter net profit and a 48% increase in revenue. The stock, which jumped as much as 7.1% earlier in the day, was the top gainer on the Hang Seng Index.

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