Tencent, Netease shares plummet on new China online gaming guidelines

FAN Editor 1 year ago

A large number of people watch the live broadcast of the 2023 League of Legends Global Finals in Yantai, Shandong Province, China, Nov 19, 2023. (Photo by Costfoto/NurPhoto via Getty Images)

Nurphoto | Nurphoto | Getty Images

Tencent and Netease shares plunged on Friday after China released draft guidelines aimed at curbing incentives that may lead to excessive gaming and spending.

Tencent shares dived more than 12%, while Netease slumped over 25%.

This story is developing. Please check back for more information.

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