Tencent falls after China media calls online gaming "spiritual opium"
Shares of online gaming companies, including Tencent Holdings and Netease Inc, tumbled on Tuesday after Chinese state media called the business"spiritual opium". FILE PHOTO: A Tencent logo is seen at its booth at the 2020 China International Fair for Trade in Services in Beijing, China September 4, 2020. REUTERS/Tingshu Wang/File PhotoSHANGHAI: Shares of online gaming companies, including Tencent Holdings and Netease Inc, tumbled on Tuesday after Chinese state media called the business"spiritual opium".
Respect to China who clamp down on all these billionaire techies.
China is not done yet, this is just the tip of the iceberg. Going after online entertainment next.
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