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Shares slide after China brands online games 'electronic drugs'


Shares slide after China brands online games 'electronic drugs'

August 5, 2021 at 8:30 AM

Shares in two of China's biggest online gaming firms have slipped after a state media outlet called them "electronic drugs".

Tencent and NetEase shares fell more than 10% in early Hong Kong trade before regaining some of those losses.

Investors are increasingly concerned about Beijing cracking down on firms.

In recent months authorities have announced a series of measures to tighten their grip on technology and private education companies.

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