Morgan Stanley downgrades Tencent Music, warns of hit from new Chinese regulations

Morgan Stanley downgrades Tencent Music, warns of hit from new Chinese regulations

Morgan Stanley downgrades Tencent Music, warns of hit from new Chinese regulations

Mascots of Tencent Music Entertainment celebrate the company’s IPO outside the New York Stock Exchange (NYSE) in New York, U.S., December 12, 2018. 
Bryan R Smith | Reuters

Rising regulatory issues in China will keep Tencent Music Entertainment from bouncing back after its rough first half of the year, according to Morgan Stanley.