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| Tencent said late on Tuesday it had entered into a deal to reduce its stake in the Singapore-based gaming and e-commerce group to 18.7% from 21.3%. The company plans to retain the substantial majority of its stake in Sea for the long term. The sale comes after Tencent said last month it would divest $16.4 billion of its stake in JD.com. Sea's shares fell 11.4% on Tuesday in New York to $197.8 following the divestment news. Sea is expanding its e-commerce operations globally, benefiting from roaring demand for its services from consumers. |