Tencent shares crash after new gaming regulations in China

On December 22, shares of Tencent (HKEX: 700) and NetEase (HKEX: 9999) experienced a sharp decline following the release of draft guidelines by the Beijing government designed to restrain incentives contributing to excessive gaming and spending.During mid-morning Friday trading, China’s National Press and Publication Administration unveiled the latest draft guidelines, causing a drop in the Hong Kong-listed shares of both Chinese companies, as reported by CNBC on December 22.The agency additionally stated t ...