Chinese regulators, specifically the National Press and Publication Administration, have announced a new set of draft rules aimed at curbing excessive spending and rewards in the online gaming industry, signaling a tightening of measures in the world's largest mobile gaming market. The draft regulation, which includes restrictions on players' spending, bans on large tips for rewards, and a ban on converting game tokens to fiat currency, has prompted a significant drop in gaming stocks. Tencent Holdings Ltd., China's largest public company, saw its shares plummet by 16%, marking its largest drop since the 2008 financial crisis and erasing approximately $54 billion of its market value. NetEase Inc. also experienced a sharp decline, with its shares falling by 28%, the biggest fall on record. The proposed rules are part of an effort to manage content within games, ensuring they do not contain elements that could harm national security, leak state secrets, or damage national honor. The new regulations have led to a broader market shock, with the Hang Seng Tech Index sliding 3.5% and other gaming companies like Bilibili and Kuaishou also facing significant losses. The draft rules are also aimed at protecting the country’s minors and are open for public opinion.
China To Tighten Controls on Video Gaming Industry https://t.co/RQSWbIDACk
China to ban daily log-in rewards, loot boxes for minors, auctions for in-game items, and impose spending limits on games https://t.co/7BOCc6SUvW
"Shares in #China’s biggest online gaming cos recorded huge losses Friday after Beijing fired a volley of new measures to curb time & money spent on gaming...#Tencent, China’s #1 company by mkt cap, tumbled 12.4%, the sharpest 1-day drop in 15 yrs" https://t.co/CjnDaYqHmd
China announces rules to reduce spending on video games https://t.co/IFsR3OYb2o https://t.co/2SwscWbISA
Chinese regulators will curb excessive spending and rewards that encourage online gaming, laying down the latest tightening measures for the world’s biggest mobile games arena https://t.co/Jl0ApFg6kG via @technology
Chinese 🇨🇳 regulators announced a wide range of rules aimed at curbing spending and rewards on video games in the country Online games will now be banned from giving players rewards if they log in every day, if they spend on the game for the first time or if they spend several…
Wow. China’s new plan to curb "excessive gaming" just crushed Tencent, their most valuable public company and the world's biggest game publisher $55B in market cap erased in minutes https://t.co/3iiMcrfwwg
🔸 NASDAQ GOLDEN DRAGON CHINA INDEX FALLS 3.9% AFTER GAMING CURBS
China Is Cracking Down on Tech Again. Tencent, NetEase Stocks Collapse. https://t.co/2UI4uSmnos
#Chinese regulators released new draft rules on online #gaming sector to tighten restrictions, game stocks tumbled amid market shock https://t.co/bIroWTrH62
China issued new rules which will effectively set spending limits for online games, sparking panic among investors, wiping off nearly $80 billion in market value from China's two biggest gaming companies https://t.co/g7xQ530hWR https://t.co/684e50hjZp
good thread on new China gaming regs https://t.co/zZdB04WJMx
#Chinese regulators propose new restrictions on online #gaming sector, game stocks tumbled amid market shock https://t.co/bIroWTrH62
Tencent and NetEase saw almost $80 billion wiped off their market value on Friday after Chinese regulators announced new rules to limit spending in online games. https://t.co/HfOFyCHjHK https://t.co/VbHt0M9sIA
🇨🇳 China proposes ban on converting game tokens to fiat currency. https://t.co/xsW5XaxOCX
China to increase curbs on video gaming industry https://t.co/sFvBWm7NR1
China's new draft regulations on online #games, which discourage daily login rewards and mandate user recharge limits, could significantly impact the profitability of #gaming companies like @TencentGames and @NetEase_Global. https://t.co/Isrzwl2LPt
"Tencent loses over $43 billion in market value after China proposes new online gaming rules" 😬 'NetEase shares plunged 24.6%"
Gaming Stocks Plunge After Beijing Unleashes Surprise Crackdown https://t.co/02JLIcDz9r
$NTES (-21.5% pre) China to curb gaming spend; Tencent, NetEase plunge - Reuters https://t.co/G4FC5LMhOQ
China announces rules aimed at curbing spending limits for online games https://t.co/0mEE63V6P5 https://t.co/xf6EKKDk2e
Global Gaming Shares Dive After China Proposes Online-Gaming Curbs - WSJ https://t.co/Wm0Eyvlq5R
Tencent leads a $80 billion rout as China’s proposed new gaming curbs revive crackdown fears https://t.co/cZx3RNIH56
China Readies Tough New Online Games Regulations https://t.co/7oqg9uBuX3
Tencent: tighter controls on in-game spending threatens earnings https://t.co/2d1gO2jSQF | opinion
Tencent: tighter controls on in-game spending threatens earnings https://t.co/QDbi9OAnle
Shares Of Tencent And NetEase Nosedive After China Proposes New Online Gaming Restrictions https://t.co/IY289RBCOe https://t.co/L1Wp1M9G1Q
China seeks to curtail spending in online games, sending Tencent and NetEase shares tumbling by $80bn https://t.co/JE3dCFcDl5 https://t.co/dXsHbAr4Ym
"It's priced in" Tencent rocked by new Chinese online gaming restrictions - https://t.co/EWzuiEr2m4 via @FT
Chinese regulators announced on a wide range of rules aimed at curbing spending and rewards that encourage video games, dealing a blow to the world's biggest games market, which returned to growth this year https://t.co/g7xQ530PMp https://t.co/Qw1aRAisqs
#FPTech: #China’s crackdown on gaming causes top 3 companies to lose $80 billion market value, #Tencent alone sheds $50 bn.#ChinaGamingCrackdown https://t.co/OOBcHhVz0F
$TCEHY $46bn wiped off Tencent's market cap after China proposes new gaming curbs https://t.co/MO5bgn05Bp
$TCEHY New draft rules targeting in-game spending wipe billions from China’s tech giants https://t.co/UGOlYW1EsJ
Tencent $tcehy down 12% on surprise Chinese gaming curbs https://t.co/WJvTxtcgD7
Chinese regulators announced new restrictions on online video games, which they said were aimed at tightening the management of the industry and protecting the country’s minors. https://t.co/REZlDHVQHT
Tencent loses over $43 billion in market value after China proposes new online gaming rules https://t.co/v7NbIGryDg
Prosus shares suffer a record drop after China issued a raft of new measures that limit players’ spending within video games, dealing a blow to the value of the company’s holding in Chinese internet giant Tencent https://t.co/74VBEsyAMp
China unveiled a raft of new measures to rein in spending and content in online games, signaling the start of another industry crackdown and wiping out roughly $54 billion of Tencent’s value in the process. https://t.co/zv1P3KJdXG
China unveils new gaming curbs, sending tech stocks tumbling https://t.co/mUSQb8WKLn
China to curb gaming spend; Tencent, NetEase plunge https://t.co/xOGtkyuWiV https://t.co/UB53ulDzmO
#NetEase slumped 24.6% on Friday, after China release new draft rule on gaming sector, biggest loss on record, erasing all its gains in past one year. #Tencent tumbled over 12%, wiping out HK$367 bn in market value. https://t.co/E3fZJpLjYS https://t.co/C6sUABQO6S
#China has announced new plans to restrict the online #gaming industry, sending shares in tech giants including #Tencent tumbling. https://t.co/ffSYsMUrVP
Draft gaming regulations cause sharp fall in NetEase and Tencent share prices https://t.co/uXu1o1Lu54
China announced a raft of crackdown measures for the gaming sector, wiping out roughly $54 billion of Tencent's value https://t.co/vdl6vvseZP
Chinese regulators announced a wide range of rules aimed at curbing spending and rewards that encourage video games, dealing a blow to the world's biggest games market, which returned to growth this year https://t.co/tGQMGfpr1j
Tencent loses US$50 billion in market value as China targets in-game spending https://t.co/AOQ2OMotW2
Krafton, which relies on Tencent for the Chinese version of PUBG and some other titles, also takes a hit on China's draft rules for online game https://t.co/pMPRnOGuao
Beijing’s proposed gaming rules send Tencent, NetEase stocks tumbling https://t.co/o1TU4GAQb1
China issues rules to curb gaming spend; Tencent, NetEase plunge https://t.co/CLuIPn7I9b
China unveiled a raft of new measures to rein in spending and content in online games, signaling the start of another industry crackdown that wiped out roughly $54 billion of Tencent Holdings Ltd.’s value.-Bloomberg https://t.co/ajikHIBRfn https://t.co/pJl7Tjd6aC
Tencent rocked by new Chinese online gaming restrictions https://t.co/72hDsmcqxZ
⚠️BREAKING: *TENCENT, NETEASE SHARES PLUNGE IN BEIJING AFTER CHINA ISSUES NEW CURBS FOR ONLINE GAMES 🇨🇳🇨🇳 https://t.co/pj5Jpj14CU
New proposed rules in China send online gaming firms tumbling https://t.co/ddX3FuxylM
#HangSeng #Tech Index sliding 3.5% after China released draft rules for online video games to tighten restriction on the sector. #NetEase is slumping 21%, Tencent down over 12%, Bilibili plunging nearly 10%, Kuaishou down nearly 7%. https://t.co/haGgRmRP6L https://t.co/KDow1jC6D5 https://t.co/R0aU87kE0F
BREAKING: Tencent's stock crashes 16% in minutes as China announces guidelines aimed reducing "excessive gaming." Tencent is China's largest public company and the drop erased ~$55 billion of market cap. This also marks the biggest one-day drop for the company since 2008. https://t.co/PsVvrkxSVV
BREAKING - China announces new draft restrictions on online gaming https://t.co/SodNyd8Tcs
A new crackdown on the gaming industry in China has .. yup, you guessed it, further eroded investor confidence Please remind me why China is a place where you want to invest your money when at any point they could pull a stunt like this (or worse) that hits your portfolio https://t.co/4Gw294yg7t
#BREAKING China announces new draft restrictions on online gaming https://t.co/knda5Xkwbf
China publishes draft rules for online gaming, including setting spending limits and banning daily login rewards; Tencent plunges 10%+ and NetEase 20%+ (@pingroma / Bloomberg) https://t.co/nM97jcG1RC 📫 Subscribe: https://t.co/OyWeKSRpIM https://t.co/TQ1o96w1ie
SHARES OF TENCENT CHINA’S BIGGEST COMPANY JUST DROPPED BY 16% THIS IS ITS LARGEST DROP SINCE THE 2008 FINANCIAL CRISES https://t.co/lTcGeCxqDM
⚡Online game operators keep falling in the afternoon. #NetEase $NTES -28%, biggest fall on record. #Bilibili $BILI -14%, biggest fall on record. #Tencent $TCEHY -13%, the most since 2008. Hang Seng Tech Index -3%. #China #Gaming $HSI $KWEB $FXI $HXC https://t.co/lvnzWeQSxv https://t.co/Pxkmp6uYQu
China issues draft rules for online game management https://t.co/8Vf4G5vHt3 https://t.co/vRYNUBNVos
#China unveiled new draft rules for online video #games, imposing restrictions on players' spending, banning large tips for rewards to players, etc. https://t.co/haGgRmRP6L
China’s National Press and Publication Administration released a draft regulation on online games management to solicit public opinion, which mentioned that online games should not contain contents that leak state secrets, endanger national security, or damage national honor and… https://t.co/65xqGhkhS6
Sucks if u own Tencent but the new Chinese gaming guidelines are actually pretty good.
The new rules are dealing a massive blow to China’s tech/gaming stocks. TENCENT IS DOWN 6% NETEASE IS DOWN 11% https://t.co/Vq8Q6TOALe https://t.co/AihdWqcsKr
China issues draft rules for online game management - Reuters Critical news for China’s video games industry as regulators reveal draft rules for the sector today. Details are as follows: https://t.co/kMjDNVOofB
Chinese regulators will curb excessive spending and rewards that encourage online gaming, laying down the latest tightening measures for the world’s biggest mobile games arena https://t.co/ePxq2NDxQK
*TENCENT EXTENDS DROP TO 5.6% AFTER CHINA ANNOUNCES GAMING CURBS Just when you thought chinese stocks can't possibly drop any more
#BREAKING China's Press and Publications will ban online game operators from setting inductive rewards to misguide consumers. Operators should refund players with legal tender instead of game props. #NetEase $NTES -3.6% #Tencent $TCEHY -2% $BILI - 0.3% #China #Gaming https://t.co/4N6HX8lix9