A Tencent logo is seen at its booth at the 2020 China International Fair for Trade in Services (CIFTIS) in Beijing, China September 4, 2020. REUTERS/Tingshu Wang/File Photo
SHANGHAI, Aug 3 (Reuters) – Shares of online gaming companies, including Tencent Holdings Ltd (0700.HK) and NetEase Inc (9999.HK), tumbled on Tuesday after a Chinese state media outlet branded online gaming “spiritual opium” and called for more curbs on the industry.
Tencent, China’s biggest social media and video games company, tumbled more than 9% in early morning trade, while Netease slumped more than 13%.
The article, published by the state-run Economic Information Daily, said many teenagers were addicted to online gaming and that was negatively impacting their growth. The news outlet is affiliated with the official Xinhua news agency.
It repeatedly cited Tencent’s flagship game Honor of Kings, saying it was the…
