China’s Tencent set to open 5.3 percent up after strong second-quarter

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HONG KONG (Reuters) – Shares of China’s Tencent Holdings are set to open 5.3 percent higher on Thursday after the world’s largest gaming company reported a forecast-beating quarterly profit.

The stock is set to open at record high at HK$340.40. That compared with a 0.7 percent rise in the benchmark index.

China’s biggest gaming and social media firm by revenue, trumped forecasts on Wednesday to post its best-ever quarterly results, driven by higher income from smartphone games, payments and online advertising.

Reporting by Donny Kwok; Editing by xxx