Tencent Surges 61.13% in Trading Volume to 468th Market Activity Rank Amid TME's 4.2% Decline

On Sept. 23, 2025, , . Meanwhile, .

Recent developments highlighted regulatory scrutiny over content moderation policies, prompting investor caution. Analysts noted that evolving compliance requirements could impact short-term operational efficiency, though long-term growth prospects remain tied to its core gaming and advertising segments.

Market participants observed mixed sentiment as Tencent navigated earnings expectations. While its offer resilience, near-term challenges include balancing innovation investments with cost management pressures.

To perform this back-test accurately, I’ll need to nail down a few practical details that weren’t specified: Market universe—Should we look at all U.S.–listed common stocks (NYSE + NASDAQ + AMEX) each day, or a different universe? Pricing convention—Do you want to “buy” at the close of Day t and “sell” at the close of Day t + 1, or use open prices? Any transaction-cost assumption to include? Portfolio construction—Equal-weighting the 500 names each day is the usual approach—OK? Once these points are confirmed I can generate the daily trading-volume ranks, build the 1-day-hold portfolio, and run the return & risk stats from 2022-01-03 through today.