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Naspers hammered as China declares games "spiritual opium"
Tencent Holdings Ltd. led a stocks rout after Chinese state media decried the “spiritual opium” of games, prompting the company to broach a ban for kids and triggering fears Beijing will set its sights next on the world’s largest gaming arena.
China’s most valuable corporation joined rivals from NetEase Inc. to Nexon Co. in a gaming selloff after an outlet run by the Xinhua News Agency published a blistering critique of their industry.
Tencent Holdings Ltd. led a stocks rout after Chinese state media decried the “spiritual opium” of games, prompting the company to broach a ban for kids and triggering fears Beijing will set its sights next on the world’s largest gaming arena.
China’s most valuable corporation joined rivals from NetEase Inc. to Nexon Co. in a gaming selloff after an outlet run by the Xinhua News Agency published a blistering critique of their industry.