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Asia’s gaming stocks plunge after China tightens rules for young video gamers

News Snapshot:

[Asia’s gaming stocks plunge after China tightens rules for young video gamers] Shares of a number of leading game industry companies fell on Tuesday (August 30) after China announced new rules forbidding minors from playing more than three hours of video games a week. Tencent was among the hardest hit, with its share price dropping nearly 3 percent on Tuesday, as gaming contributes to about 60 percent of its total revenue, according to a Reuters report. Jefferies analysts said on Monday they predict Tencent’s smaller rivals like NetEase will also sustain losses, though not as much as the industry leader….

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