Why Tencent Fell Over 5% Today

Tencent delivered solid earnings, but macroeconomic fears in China appeared to outweigh the good results.Shares of Chinese tech giant Tencent Holdings (TCEHY -3.35%) plunged 5.9% at one point today before recovering to a 4.1% decline as of 2:35 p.m. EDT.At first, it was hard to pinpoint the reason for the decline. Tencent's second-quarter results came in ahead of expectations, including a return to growth in its important Domestic Games segment. However, Tencent's fintech segment slowed markedly, which dove ...