Tencent Shares Dive After Chinese Media Calls Online Games ‘Spiritual Opium’

Bloomberg2021-08-03

Tencent Holdings Ltd. dived as much as 10% Tuesday after an offshoot of China’s official news agency decried the “spiritual opium” and “electronic drugs” of games, stoking fears Beijing will next set its sights on online entertainment.

The social media giant joined rivals NetEase Inc. and XD Inc. 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 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.

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精彩评论

  • SerenityMie
    2021-08-03
    SerenityMie
    Like n comment
  • Wuji
    2021-08-03
    Wuji
    good good, gives me time to save more ammo to pah
  • Portfolio50
    2021-08-03
    Portfolio50
    Gosh, never ending bad news on Hong Kong stocks!
  • moonbright
    2021-08-03
    moonbright
    Terrible!
  • money2me
    2021-08-03
    money2me
    OMG 😭😭😭
  • Dcpaddidog
    2021-08-03
    Dcpaddidog
    Like pls
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