Tencent Slump Erases $55 Billion as Analysts See Only Gains

A man stands next to statues of the QQ mascot outside Tencent Holdings Ltd.'s under construction new headquarters in Shenzhen, China, on Monday, Aug. 22, 2016. The new headquarters for Tencent is a $599 million project aimed at creating a campus-like atmosphere for the urban setting. Scheduled for completion next year, the Shenzhen skyscraper could become one of the largest labs for new internet services and connected devices.
Photographer: Qilai Shen/Bloomberg

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December 4, 2017 at 10:08 PM EST

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Tencent Holdings Ltd. may be selling off, but analysts are the most bullish on record.

The Chinese tech giant fell for the fourth time in five sessions Tuesday as angst over U.S. technology stocks returned. This is after $55 billion in value was wiped out from its Nov. 21 high through Friday with global investors cashing in some of this year’s best equity performers.

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