** Tencent Music Entertainment 1698.HK jumps 12.3% in broad market recovery; second biggest pct gainer on Hang Seng Tech Index .HSTECH, which is up 4.3%
** Stock plunged 14.7% on Monday when Hang Seng index .HIS logged its steepest one-day decline since 1997 on a brutal selloff triggered by concerns over trade tariffs
** U.S.-listed stock TME.N fell 1.6% in the last session amid a global market rout
** Nomura initiates with "buy", says co striking the right chords with affordable entertainment in a slowing economy
** Adds, Tencent's 0700.HK music-streaming subsidiary the largest of its kind in China, with a vast, unmatched music library
** YTD, Tencent Music's HK shares gain 15.3%, U.S. stock up 12.3%
(Reporting by Donny Kwok)
((donny.kwok@thomsonreuters.com))
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