In brief: Tencent stock falls to 15-month low

Chinese gaming and social media giant Tencent plunged to a 15-month low in Hong Kong trading Monday, wiping out more than a third of its market value since the stock peaked in January.

The company finished the day at HK$299 (US$38), down 1.97 percent and below HK$300 for the first time since July 2017.

Source: Caixin Global 

China’s regulatory crackdown on gaming, one of Tencent’s core businesses, played a role in this drop. Other factors included the company’s first quarterly profit decline in 13 years, a generally sour mood at the Hong Kong and Shanghai stock exchanges, and China-US trade tensions.