Tencent Holdings’ shares fell more than 3% on Wednesday, slipping below the HK$400 mark amid selling pressure in the Hong Kong stock market.

The decline pushed the technology giant’s share price below a key psychological level, drawing investors’ attention to the stock’s near-term performance. Market sentiment toward Chinese technology stocks, broader equity market trends and expectations for the company’s business outlook may influence its share price in the coming sessions.

Investors will be watching for further developments in market sentiment and company-specific news to gauge whether Tencent’s shares can recover the HK$400 level.