Chinese gaming ADRs fall after China to curb gaming spend

NetEase

22/12/2023 09:40

** U.S.-listed shares of Chinese gaming companies slide in
premarket trading after Chinese regulators announced a wide
range of rules aimed at curbing spending and rewards that
encourage video games
    ** Shares of online game developer and services operator
NetEase  NTES.O  drop 23.8%, internet and mobile gaming group
Bilibili  BILI.O  slide 10.6% 
    ** KraneShares CSI China Internet ETF  KWEB.K  declines
5.9%, and Tencent Music Entertainment Group  TME.N , a unit of
the world's biggest gaming company Tencent Holdings  0700.HK ,
falls 4.5%
    ** U.S. gaming platform Roblox  RBLX.N  down 2.0%, while
game developers Electronic Arts  EA.O  and Take-Two Interactive
Software  TTWO.O  down more than 1% each in low trading vols
    ** Dutch tech investor Prosus  PRX.AS  and French video
games developer Ubisoft  UBIP.PA  slide 18.6% and 6%,
respectively  urn:newsml:reuters.com:*:nL8N3DH1PL


 (Reporting by Shashwat Chauhan in Bengaluru)
 ((Shashwat.Chauhan@thomsonreuters.com;))