RTTNews | Sep 24, 2021 12:19PM EDT

12:19 Friday, September 24, 2021 (RTTNews.com) - Chinese music streaming company Tencent Music Entertainment Group (TME) is trading 4% lower in the market. The company has not posted any stock-specific news to affect the shares.

Chinese companies listed on the NYSE have been falling severely since the Chinese government started a crackdown against these companies. Tencent has been falling steadily since late March and in the last three months, the shares have lost almost 55% of their value. The company is now at its lowest since its debut in October 2018.

The shares are trading hands at $7.15, down $0.30 or 3.97% since the previous close at $7.44. The shares opened at $7.36 in the morning. In the 42-week period, the shares have ranged between $6.82 and $32.25 per share.

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