Tencent stocks fall amid fears of a crackdown on Chinese government games

Tencent stocks fall amid fears of a crackdown on chinese government games

Earlier Tuesday, shares of several gaming companies, including Tencent, fell sharply to 11% in Hong Kong markets after the Communist Party of China's Propaganda Department announced at the ChinaJoy expo that the video games had to be "good, clean and safe." Shares of companies like Tencent, NetEase and XD began to fall in response. Shares of China Mobile Games and Entertainment Group (CMGE) even fell a whopping 20%.

Several video game companies from other Asian countries, including Japanese giants Capcom, Konami and Nintendo, were also successful, but not to such an extent. While at the time of writing, Tencent shares have recovered to -6%, the company has lost a total of $ 110 billion since the beginning of last week.

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