China to tighten controls on video gaming industry, prompting sell-off in Tencent and NetEase shares
The proposed regulation immediately prompted investors to dump shares in major Chinese video gaming stocks. Tencent Holdings, the world’s largest video gaming company by revenue, saw its shares close down 12 per cent to HK$274 on Friday, wiping out about HK$300 billion worth of value, while NetEase lost 27 per cent in pre-market trading in … Read more
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