Tencent falls 2.5% as Prosus, Naspers say to gradually sell shares

HONG KONG: Shares of Chinese internet gaming and social media giant Tencent Holdings Ltd gave up early gains to fall as much as 2.5% to HK$374.60 in the early afternoon, after Prosus NV and Naspers said they would gradually sell shares in the firm.

Tencent stock surged as much as 4.2% in morning trade to HK$400.20, its highest since June 9, before sliding in the afternoon. The stock last traded down 1.3%, the third biggest percentage decliner in the Hang Seng Tech Index.