Naspers and Prosus crash as China hits the gaming pause button 🔒
Prosus, which houses Naspers’s global internet business, including a nearly one-third stake in Tencent, had its worst day in more than a month on Thursday after reports that Chinese regulators are stepping up efforts to limit online gaming.
The South China Morning Post, citing unidentified people, reported that regulators told Chinese tech firms that approval of new games is to be suspended. This was during a meeting at which their focus on profit was questioned...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.
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