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Hong Kong stocks skid on Tencent setback as state media slams gaming ‘opium’

Source: hksar.org hksar.org
News Snapshot:

Hong Kong stocks declined after a publication run by the Xinhua News Agency slammed internet gaming addiction, heightening concerns that the industry could become the next target of Beijing’s regulatory wrath. Losses narrowed after the daily pulled the article. The Hang Seng Index dropped 0.2 per cent to 26,194.82, after losing as much as 1.8 per cent. Gaming operators Tencent Holdings and NetEase tumbled by at least 6 per cent, among the market’s worst performers. [Alibaba](tag?_=alibaba) Group Holding erased losses before its quarterly earnings report. China’s Shanghai Composite Index lost 0.5 per cent. Traders scrambled to unwind their holdings of…

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