In information technology, shares of social network and online gaming provider Tencent (HKSE:00700) corrected. The company was our largest detractor to performance after China temporarily halted video game license approvals and issued new regulations to limit the amount of time minors spend playing online games. To move the company forward, Tencent recently undertook a major restructuring to improve the integration of its rich user traffic data and advanced analytics, and strengthen its services to corporate customers. In light of the firm's formidable platform and strong execution, we continue to hold this position and closely monitor its restructuring progress.
From Matthews China Fund (Trades, Portfolio) third-quarter 2018 shareholder letter.
