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

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Jesse Pound@/in/jesse-pound@jesserpound
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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.