Tencent, NetEase shares rise as China gaming crackdown eases

Wall-Street Call joined discussion · Jan 17, 2023 21:38

Jan 18 (Reuters) - Shares of $TENCENT(00700.HK)$, the world's largest gaming company, and smaller rival $NetEase(NTES.US)$ rose on Wednesday after China's video games regulator granted the first gaming licences in 2023, further easing an industry crackdown.

Tencent, NetEase shares rise as China gaming crackdown eases

Tencent's shares rose as much as 1.7% in early trade before paring gains, while NetEase's stock jumped as much as 5.8% to its highest in more than four months.

The granting of publishing licences to 88 online games on Tuesday is the latest sign that a regulatory clampdown that began in August 2021 and took a heavy toll on the world's largest gaming market is ending.

Unlike in most other countries, video games need approval from regulators before release in China.

The crackdown was aimed at purging content the government did not approve of, with companies asked to delete content that was violent, deemed to celebrate wealth or foster the worship of celebrities.

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