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Semiconductor shares extended their global rebound after last week's severe selloff. Tencent Holdings fell 7.05% and NetEase declined 7.4%, both notching their biggest one-day percentage drop in more than a year. Bilibili gave up 4.9%. For Tencent, its valuation has been depressed in recent months amid concerns about a lack of new blockbuster games and higher expenses related to AI investments. However, Bernstein analysts still expect Tencent to outperform its gaming peers. The benchmark Hang Seng Index ended 0.95% lower at 24892.66; the Hang Seng Tech Index fell 3.0%.  Dow Jones NewswiresJuly 22, 2026 05:08 ET Copyright  2026 Dow Jones & Company, 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