HK-listed Tencent snaps four-session rally after Q1 results

** Shares of Chinese gaming and social media giant Tencent Holdings Ltd fall as much as 3.5% to HK$587.50, their biggest intraday drop since April 7

** Stock biggest loser in both Hang Seng Index and Hang Seng Tech Index , set to snap four-session rally

** Tencent reported on Thursday a forecast-beating 65% rise in quarterly profit, while management reiterated the company's focus on compliance as China steps up scrutiny on tech giants

** Nomura maintains "buy" on the stock but trims TP to HK$731 from HK$780, saying Tencent reported a largely in-line Q1 revenue but slightly lower earnings

** Jefferis maintains "buy" on the stock saying Q1 results is inline with expectations, while genre diversification gaming, enrichment of content offerings and embracing digitization opportunities will drive its long-term growth

** The information technology sub-index slips 0.2%, while the Hang Seng Tech Index rises 1.3%

** The Hang Seng China enterprises index climbs 0.5% and HSI edges down 0.02%

** Stock up 8% this year as of last close