Tencent tumbles as Chinese regulators summon gaming firms


Source: techcentral.co.za techcentral.co.za

Key Topics in this News Article:

News Snapshot:

Chinese gaming and media stocks including Tencent Holdings and NetEase fell on Thursday a day after authorities summoned them and other gaming firms to ensure they implemented new rules for the sector. Tencent shares shed 4% in Asia trade. NetEase’s Hong Kong-listed shares dropped 6.45% after a 5% decline in the company’s US shares overnight. Bilibili’s Hong Kong-listed shares shed more than 7%, also tracking an overnight fall in the US shares of the short video-sharing and gaming company. Beijing last month moved to ban under-18s from playing videogames for more than three hours a week. The tighter gaming regulations...