Hong Kong shares rebound as Tencent halts sharp slide

July 5 (Reuters) – Hong Kong shares rebounded on Wednesday
following the previous session’s slump, helped by consumer and
financial stocks and as index heavyweight Tencent Holdings Ltd
bounced from a seven-week low.

The Hang Seng index rose 0.5 percent to 25,521.97,
while the China Enterprises Index gained 0.7 percent to
10,380.73 points.

Most sectors rose, with financials and consumer
stocks leading the gains.

Tencent, whose heavy losses on Tuesday contributed to Hang
Seng’s sharp fall, stabilised on Wednesday, after the company
shrugged off concerns that a move to limit play time for some
users of its top-grossing “Honour of Kings” game could hurt its
bottom line.

(Reporting by the Shanghai Newsroom; Editing by Sam Holmes)


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