(ABM FN-Dow Jones) The share of Tencent, in which the Amsterdam-listed Prosus holds a large interest, fell by more than 6% on Tuesday.
Fears that the gaming industry will become Beijing’s next victim were fueled today by state news agency Xinhua. In the Economic Information Daily, he called online entertainment “spiritual opium” and “electronic drugs”.
Shares Bilibili and NetEase were also under strong pressure on Tuesday.
The Chinese authorities recently cracked down on the online education sector, leading to price drops of dozens and sometimes more than 90 percent.
Beijing also wants to limit IPOs of Chinese companies in the US. For example, newbie Didi was tackled immediately after obtaining a listing in the US. An investigation into Didi is currently underway and the company should be banned from the major app stores in China for the time being.
ABM Financial News; [email protected]; Redactie: +31(0)20 26 28 999.
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From Beursplein 5, the editors of ABM Financial News keep a close eye on developments on the stock exchanges, and the Amsterdam stock exchange in particular. The information in this column is not intended as professional investment advice or as a recommendation to make certain investments.
