“No industry or sport should prosper by eradicating an entire generation,” the article said, citing an academic at a state-backed institution. Tencent has now shed more than $110 billion or roughly 17% of its market value since the start of last week, when Beijing sharply amped up its campaign. to Tencent-backed Meituan and Didi Global Inc. Nervous investors continue to reevaluate their holdings as they ponder the longer-term ramifications of a crackdown on firms from Jack Ma’s Ant Group Co. Still, the strongly worded article spooked investors already on edge after Beijing came down hard on online industries from e-commerce to ride-hailing, triggering a global selloff of Chinese shares that at one point surpassed $1 trillion. The online link to the post was removed hours later - though the story remains in the print version - and Tencent recouped some of its losses in afternoon trade. The Economic Information Daily cited a student as saying some schoolmates played Tencent’s Honor of Kings - one of its most popular titles - eight hours a day and called for stricter controls over time spent on games. in an abrupt selloff in early Hong Kong trading after an outlet run by the Xinhua News Agency published a blistering critique of the gaming industry. The social media giant joined rivals NetEase Inc.
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