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Chinese government games crackdown sees Tencent and NetEase stock plummet

September 11, 2021
Source: pcgamesinsider.biz pcgamesinsider.biz
News Snapshot:
Chinese two biggest games companies, Tencent and NetEase, have lost a substantial amount of money in the wake of the prospect of increased regulation in the region. As reported by Bloomberg , the duo saw a combined loss in value that clocked in at over $60 billion on the night of Wednesday, September 8th. Apparently, execs from both Tencent and NetEase were summoned to a meeting with industry regulators where they were instructed to stop their "solitary focus" on profit and take steps to ensure kids weren't becoming hooked to video games. That $60 billion loss is substantial, but the...
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Tags: Bloomberg | China | Chinese | crackdown | entertainment | finance | financial | games | government | Hong Kong | Hong Kong Stock Exchange | KONG | loss | media | NetEase | news | online | profit | regulation | share | South China Morning Post | stock | stock exchange | Tencent | video

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