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NTES - NetEase Inc News Story

$93.76 -0.8  -0.8%

Last Trade - 3:26pm

Sector
Technology
Size
Large Cap
Market Cap £47.41bn
Enterprise Value £40.48bn
Revenue £9.74bn
Position in Universe 197th / 7419

BUZZ-Alibaba's Hong Kong shares hit record low on increasing China's scrutiny

Thu 16th September, 2021 7:40am
** Alibaba's Hong Kong-listed shares  9988.HK  fall 2.6% to
HK$150, lowest since listing in November 2019, on increasing
scrutiny from China regulators 
    ** Stock falls for fourth consecutive session
    ** Cybespace Administration of China said on Wednesday
requiring website platforms to strengthen account management,
strictly comply with true identity information registration
requirement, to establish a blacklisted accounts data basem and
to cleanup "zombie accounts"  urn:newsml:reuters.com:*:nL4T2QH2UL
(https://bit.ly/3hCANul)
    ** China slows game approvals to enforce tough new rules
with regulators reviewing new games from developers from Tencent
 0700.HK  to NetEase  9999.HK  to make sure they comply with
fresh curbs imposed in August, Bloomberg News reported, citing
people familiar with the matter  urn:newsml:reuters.com:*:nL1N2QI0BK
    ** Shares of Tencent slip 1.9% to HK$445, lowest since Aug.
23; while NetEase's Hong Kong stock climb 1.7%
    ** Citi says regulatory tightens in relation to concerns
about monopoly market power, data/user security and protection
of minors in gaming and workers in the gig economy
    ** "China's internet industry is likely to enter a new
normal of slower but healthier top-line and profit growth, in an
operating environment that is more open and orderly" - Citi
    ** The Hang Seng Tech Index  .HSTECH  both drops 2% and the
benchmark index  .HSI  drops 2%


 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))
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