Tencent shares extend losses on play-time limits, criticism of popular game
BEIJING – Shares of Tencent Holdings, China’s biggest gaming and social media firm by revenue, fell more than 3 percent on Wednesday, extending losses after it said it will limit play time for some young users of “Honour of Kings”.
The Chinese communist party mouthpiece, the People’s Daily, has also stepped up its criticism of the game, helping it fall more than 4 percent on Tuesday.
Shares of the company slid more than 3 percent early on Wednesday, compared with a 0.7 percent drop for the broader index. -Reuters