Sea shares climb after spending to fight TikTok

Better numbers: Signage for Sea at its office in Singapore. The company is still attracting buyers despite fierce competition from rivals such as Temu and TikTok shopping. — Reuters

Singapore: Sea Ltd gained its most in more than a month after reporting an adjusted quarterly profit and a better-than-expected 2024 outlook, suggesting it’s making headway in fending off hard-charging rivals including TikTok and Alibaba’s Lazada.

Its US shares leapt as much as 14% before closing about 5.6% up, its highest since August.