$TENCENT(00700.HK)Tencent will release its 2025 annual report on March 18, 2026. As per tradition, the company will enter a quiet period 60 days before the report's release, suspending share repurchases (repurchases will be paused from January 16, 2026, until March 18, 2026). The most recent repurchase was on January 14, 2026, amounting to HKD 636 million. Currently in the quiet period, the company coincidentally faced recent rumors about internet platforms facing higher VAT rates and a technical incident where WeChat blocked links to share "Yuanbao" red packets. From Monday to Thursday this week, the stock price dropped 11% without resistance, closing at HKD 606 last Friday and hitting an intraday low of HKD 541 today. Short sellers happily made a quick profit. Compared to past instances of concrete regulatory actions on internet platforms and underage gaming addiction, this time there were no external industry or company-specific factors—the negative news was purely misunderstandings, misinformation, and sensationalism, and the technical glitch wasn’t a big deal. Yet, it worked. This shows the market is fragile, investors are nervous, and holdings are shaky. However, the decline indeed provided an excellent opportunity to average down or add positions, and a strong rebound finally emerged during trading. It is expected that in the following trading sessions, the stock price will recover its losses and a return to HKD 600 remains within reach.