What A Downgrade of Tencent Says About China’s Online Gaming Sector
On Monday evening SIG analyst Zhao Chunming downgraded Tencent from positive to neutral over concerns about its valuation in the face of a slowdown in the Chinese online game market. 48% of Tencent’s revenue comes from online gaming, and in the last several weeks Perfect World, Shanda Games, Giant Interactive and Netease have all issued [...]
