Tencent and NetEase shares bounced back after Beijing eased its stance on gaming restrictions, but investors remain cautious about further crackdowns.
Tencent regained just some of last week’s share losses after Beijing softened its stance on controversial new gaming restrictions , suggesting investors remain wary of another crackdown on the world’s largest mobile arena . Tencent climbed as much as 4.9% while smaller rival NetEase jumped more than 14% in their first Hong Kong trading session after the government tried to assuage the market, tracking a Tuesday rebound in their mainland Chinese-traded peers.
On the JSE, Tencent stakeholders Naspers (R3 006.23) and Prosus (R541.79) gained almost 10% on Wednesday. On Friday, both shares lost almost a fifth of their value. Their bounce-back represented a fraction of Friday’s $80 billion rout, when regulators slapped sweeping restrictions on in-game spending and playing time. Investors remain on edge following the surprise curbs, which revived fears that Beijing may again target the online content sphere. Tencent remains down about 8% from before the regulations surfaced. The government has since sought to tone down its approac
Tencent Netease Beijing Gaming Restrictions Investors Crackdown Mobile Arena Shares Rebound
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