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Tencent Music Announces $1 Billion Buyback as Archegos Capital Fallout Hits Asian Tech Stocks

By Shai Oster
· · Source: Bloomberg

Tencent Music announced a $1 billion share buyback after its shares were among the Chinese tech stocks hit in the fallout from the liquidation of massive positions held by hedge fund Archegos Capital, Bloomberg reported. Other shares included Vipshop, Chinese video streaming service iQiyi and online education app GSX Techedum. Tencent Music pared its losses after the buyback announcement....

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