Tencent falls after China media calls online gaming "spiritual opium"

  • 8/3/2021
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SHANGHAI, Aug 3 (Reuters) - Shares of online gaming companies, including Tencent Holdings and Netease Inc , tumbled on Tuesday after Chinese state media called the business “spiritual opium”. Tencent tumbled more than 9% in early morning trade, while Netease slumped over 13%. Many teenagers are addicted to online gaming, which has made a huge negative impact on their growth, according to an article in the Economic Information Daily, which is affiliated with the official Xinhua Agency. Reporting by SHANGHAI NEWSROOM; Editing by Christian Schmollinger

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