Tencent shares plunge 12% after new curbs on gaming - Breaking The News

Tencent shares plunge 12% after new curbs on gaming

22 December

1 min read

EPA-EFE/WU HONG

Tencent Holdings Ltd. fell on Friday over 12% after Chinese authorities announced new regulations aimed at reducing player spending on online games.

The National Press and Publication Administration (NPPA), which is in charge of licensing and regulating video games, said it will impose new spending limits on online games and will require game manufacturers to "clearly present them" within their games.

The company's stock nosedived 12.54% at 06:48 am CET, going for $273.40 apiece.

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