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Tencent shares hit all-time high on hopes for VR, ad revenue

Growth in smartphone games helped Tencent deliver a higher-than-expected profit.

HONG KONG -- Investors piled into Chinese internet giant Tencent Holdings, sending its shares to an all-time high in Hong Kong Friday, amid growing optimism that virtual reality and advertising revenue will accelerate Tencent's future growth.

The stock extended gains for the third day to rewrite the previous post-split record high marked on Sept. 6.

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