TCEHY - Why Are Tencent And NetEase Shares Up Today? Hint: It Has To Do With Chinese Goverment Gaming Regulations | Benzinga
China's gaming regulator has removed proposed rules from its website that aimed at curbing spending and rewards in video games.
The removal from the National Press and Publication Administration's (NPPA) page was spotted by Reuters on Jan. 23.
The draft rules, announced last month, had caused market turmoil, leading to a nearly $80 billion drop in market value for China's top gaming companies, Tencent Holdings ADR (OTC: TCEHY) and NetEase Inc (NASDAQ: NTES).
See Also: Tencent Responds To China's Crackdown On Video Gaming, Doesn't Anticipate Changes
The proposed regulations included setting ...