Here's Why Tencent Music Entertainment Group Shares Are Rising

Tencent Music Entertainment Group - ADR TME shares are trading higher by 6.83% to $4.85 Friday morning as Chinese stocks gain following slower-than-expected China inflation data.

What Happened?

China's consumer prices increased at a slower-than-expected pace in August in the wake of heatwaves and COVID-19 flare-ups, while producer inflation eased to the lowest since February 2021, reported Reuters, citing official data. CPI rose 2.5% year on year, compared with a 2.7% growth in July...Read More

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According to data from Benzinga Pro, Tencent Music has a 52-week high of $9.10 and a 52-week low of $2.95.