Game over Tencent and NetEase, two gigantic China
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Posted On: 12/30/2023 5:03:12 AM
Game over
Tencent and NetEase, two gigantic China-based technology conglomerates, saw their shares sink after China announced surprise rules aimed at curbing excessive gaming and spending. Tencent
shares tumbled 12.35% Friday afternoon and NetEase
plunged an even more dramatic 24.6%. But smaller developers will be hurt more by the rules, analysts say.
Tencent and NetEase, two gigantic China-based technology conglomerates, saw their shares sink after China announced surprise rules aimed at curbing excessive gaming and spending. Tencent
shares tumbled 12.35% Friday afternoon and NetEase
plunged an even more dramatic 24.6%. But smaller developers will be hurt more by the rules, analysts say.
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