Shares in Tencent and NetEase fell sharply on Thursday after authorities ordered the Chinese technology companies to move away from a focus on profit in online gaming.
The country’s two leading gaming companies were on Wednesday summoned for talks in Beijing, where top officials asked them to “profoundly understand the importance and urgency of preventing minors from online game addiction”, according to Xinhua, the state news service.
Hong Kong-listed shares in NetEase and Tencent dropped as much as 7.7 and 4.8 per cent, respectively, on Thursday, while the Hang Seng Tech index fell 3 per cent.
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