What’s the most disappointing stock trade in the world this year? Step forward Tencent. The Internet giant tumbled 22% in Hong Kong through Tuesday, wiping out $108 billion in value.
There’s better news for Asian stocks overall today, with shares extending a rally as investors wagered that the U.S. China have time to iron out their differences on trade.
Elsewhere:
– Oil retains gains after Saudi comments lift prices
– Bank of Japan meets on monetary policy
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