China Regulator Surprises Gaming Industry With Nod For 105 Online Titles After Investors Burn Hands
Portfolio Pulse from Benzinga Neuro
China's National Press and Publication Administration (NPPA) approved 105 online games, including titles from Tencent Holdings (OTC:TCEHY) and NetEase Inc (NASDAQ:NTES), signaling support for the gaming industry. This follows a market selloff due to draft regulations aimed at curbing online gaming, which caused significant share price declines for Tencent and NetEase. The NPPA's move may alleviate concerns over the proposed regulations.
December 25, 2023 | 7:28 pm
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POSITIVE IMPACT
NetEase Inc's 'Firefly Assault' is among the games approved by China's NPPA, which may help recover from the recent drop in share prices due to regulatory draft proposals.
NetEase's inclusion in the list of approved games by the NPPA suggests a positive outlook for the company, which could help its stock price rebound in the short term following the negative impact of the proposed gaming restrictions.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
Tencent Holdings received approval for 'Counter War: Future' among 105 online games by China's NPPA, potentially offsetting recent losses from regulatory concerns.
The approval of Tencent's game by the NPPA is likely to be seen as a positive development after the company's shares fell due to regulatory concerns. This could lead to a short-term positive impact on Tencent's stock as it may alleviate investor fears over the proposed gaming curbs.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 80