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NetEase loses a quarter of its value and Tencent stock skids on new China gaming rule proposal

Por: MarketWatch Business December 22, 2023

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The draft rules also said content of any games should be prohibited from leaking “state secrets.” The rules are open to public comment until January 22, 2024. Shares of NetEase tumbled 24% and Tencent fell 12% in Hong Kong trading, which weighed on the Hong Kong Hang Seng Index , down 1.7%. Tencent is the parent of Tencent Music Entertainment Group . Gaming represents about 70% of NetEase revenue and about 30% for Tencent, according to... + full article



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