Tencent, Netease shares plummet on new China online gaming guidelines

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A large number of people watch the live broadcast of the 2023 League of Legends Global Finals in Yantai, Shandong Province, China, Nov 19, 2023. (Photo by Costfoto/NurPhoto via Getty Images)

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Tencent and Netease shares plunged on Friday after China released draft guidelines aimed at curbing incentives that may lead to excessive gaming and spending.

Tencent shares dived more than 12%, while Netease slumped over 25%.

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