Tencent soars after 8 months of gaming freeze in china

Tencent soars after 8 months of gaming freeze in china

Finally, the long-awaited has ended. China’s gaming industry in a rally after regulators approved the country’s first batch of new titles in more than eight months.

Analysts expect Tencent and NetEase to eventually get games approved. During a previous major suspension in 2018, Tencent was also excluded from the first crop of licensed titles.

Tencent Holdings Ltd. surged more than 5% in about three weeks in Hong Kong on an intraday basis.

The resumption of game approval is a positive development for China’s games industry. It will help boost investor confidence that the government remains supportive of cultural and innovative aspects of the games industry and could signal the resumption of a more regular approval process.

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