Investing.com - Chinese Internet company Tencent Holdings HK (HK:0700) Ltd. slumped Thursday after weaker-than-expected earnings and trading was lackluster throughout the Asia region, including in South Korea, after the central bank kept rates unchanged.
In Hong Kong, shares of heavyweight Tencent bounced off their morning lows after the firm said its net profit rose 46%, missing expectations for growth of 57%.
The stock was recently down 1.2%, paring a 3.5% loss earlier.
The broader Hang Seng Index was unchanged at 23932.35, after three consecutive days of gains.
In South Korea, the benchmark Kospi was last down 0.3%, after the Bank of Korea kept its main policy rate unchanged at 2.0%.
Korea's benchmark Kospi has been one of the worst-performing markets in Asia year-to-date, having lost 3.6% in the past three months.
Analysts had expected the central bank to hold rates steady.
The Nikkei 225 was up 0.1% at 17218.89, with the U.S. dollar strengthening.
Overnight, U.S. stocks ended Wednesday mixed to lower after lackluster European data gave investors reason to sell equities for profits.
U.S. stocks dip on soft European data; Dow down 0.02% U.S. stocks dip on European data in a quiet session
At the close of U.S. trading, the Dow 30 fell 0.02%, the S&P 500 index fell 0.07%, while the NASDAQ Composite index rose 0.31%.
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Asian shares mixed with Tencent down sharply in HK on weak earnings
Published 11/12/2014, 11:42 PM
Updated 11/12/2014, 11:44 PM
Asian shares mixed with Tencent down sharply in HK on weak earnings
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