Tencent Music Hong Kong shares jump; Nomura starts with 'buy'

Tencent Music Entertainment

08/04/2025 08:49

** Tencent Music Entertainment 1698.HK jumps 12.3% in broad market recovery; second biggest pct gainer on Hang Seng Tech Index .HSTECH, which is up 4.3%

** Stock plunged 14.7% on Monday when Hang Seng index .HIS logged its steepest one-day decline since 1997 on a brutal selloff triggered by concerns over trade tariffs

** U.S.-listed stock TME.N fell 1.6% in the last session amid a global market rout

** Nomura initiates with "buy", says co striking the right chords with affordable entertainment in a slowing economy

** Adds, Tencent's 0700.HK music-streaming subsidiary the largest of its kind in China, with a vast, unmatched music library

** YTD, Tencent Music's HK shares gain 15.3%, U.S. stock up 12.3%

 (Reporting by Donny Kwok)

 ((donny.kwok@thomsonreuters.com))