JD.com Stock Sinks After Tencent Divests $16.4 Billion Stake

2 years ago 405

Tencent Holdings, the Chinese societal media and gaming giant, said Thursday it would trim its involvement successful JD.com and administer $16.4 cardinal successful JD banal arsenic a dividend to shareholders.

JD.com (ticker: JD) shares fell by much than 7% Thursday. Tencent (700.Hong.Kong) shares were up 4% connected the news. The banal is down astir 40% since its January high.