Tencent Music's Q1 revenue slumps 15% but shares rise on hopes of regulatory easing

Tencent Music's Q1 revenue slumps 15% but shares rise on hopes of regulatory easing

Tencent Music. Photographer: Tencent Music /Bloomberg

China’s Tencent Music Entertainment posted a 15% slump in first-quarter revenue, matching expectations, but saw its shares join a sector-wide surge on Tuesday as hopes grew for a loosening of regulatory curbs on China’s tech giants.