TCEHY - India bans 54 Chinese apps; NetEase dips Sea tumbles 16%

India's government has issued a ban on 54 apps that it links to Chinese origin, calling them a threat to privacy and security. That's the latest development in restrictions of Chinese apps in the country that began in 2020. And it's hitting some rebranded avatars of apps that were previously banned, including those under the mark of Tencent (TCEHY +0.4%), Alibaba (BABA -1.3%) and NetEase (NTES -1.7%). “Many of the apps from the stable of Tencent and Alibaba, have changed hands to hide ownership. They are also being hosted out of countries like Hong Kong or Singapore, but the data was ultimately going to servers in Chinese destinations,” one official says. The summer 2020 bans hit apps including TikTok (BDNCE), Likee and Bigo Live (YY +1.4%), and ES File Explorer (BIDU +0.2%). The new action hits popular games like Garena Free Fire (NYSE:SE), based in Singapore but cited as of

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India bans 54 Chinese apps; NetEase dips, Sea tumbles 16%