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Markets

Tencent's gaming losses cast wider shadow

Benchmark indexes slip while investors shift attention to rivals

Tencent was forced to pull "Monster Hunter: World" (Photo by Yoichi Iwata)

Shares of Tencent Holdings continued to slump on Thursday as investors showed their disappointment with the unexpected profit drop at the world's largest gaming company, but its competitors felt limited impact from its troubles.

Until its shares began to slide earlier this year, Tencent had the highest market capitalization of any Chinese company. Its first quarterly profit decline in 13 years, reported after the market closed on Wednesday, saw its market value cut by 93.24 billion Hong Kong dollars in the following session, as its shares fell 2.9% to HK$326.20.

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