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JPMorgan downgrades Tencent Music as company faces regulatory hurdles in China

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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

New regulations in China have cut into the bull case for shares of Tencent Music Entertainment, according to JPMorgan.

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