Chinese gaming companies' U.S. listings dive as report sparks crackdown fears

DouYu International Holdings

03/08/2021 10:55

** U.S. listings of Chinese gaming companies drop sharply
premarket after China's state media refers to online games as
"spiritual opium", stoking fears of tighter regulation 
    ** Internet giant Tencent Holdings  0700.HK  says it would
curb minors' access to its flagship video game, hours after its
shares were battered by the report in a Xinhua-affiliated
publication  urn:newsml:reuters.com:*:nL1N2PA03U
    ** Hong Kong-listed shares of Tencent, one of China's tech
trinity of BAT that includes Baidu and Alibaba, were down ~6.1% 
    ** U.S. listing of Chinese gaming-to-email company Netease
Inc  NTES.O  slides 9% before the bell
    ** HUYA  HUYA.O , an operator of game live streaming
platforms, sees its U.S. shares fall ~4%; Douyu International
Holdings  DOYU.O  drops 3.7%
    ** Mobile game publisher Bilibili  BILI.O  slides 7.1%
    ** KraneShares CSI China Internet ETF  KWEB.N  down 32.7%
for the year through last close on fears of further Chinese
government crackdown on the country's large tech sector

 (Reporting by Aaron Saldanha in Bengaluru)
 ((Aaron.Saldanha@thomsonreuters.com; +91 80 6749 1130))