Tencent shares jump over 3 percent after Chinese regulators approve new games

FILE PHOTO: People use smartphones at a Tencent booth during the Global Mobile Internet Conference (GMIC) 2017 in Beijing, China April 28, 2017. REUTERS/Jason Lee/File Photo

HONG KONG (Reuters) – Tencent Holdings’ (0700.HK) shares rose more than 3 percent on Friday after Chinese regulators approved mobile games published by the firm for the first time since a freeze on new approvals was imposed in March amid increased scrutiny of the sector.

The State Administration of Press, Publication, Radio, Film and Television on Thursday approved 95 games in its fourth list since December, with two mobile games from Tencent and one from NetEase.

Shares of Tencent climbed as much as 3.1 percent by late Friday morning to HK$340.40.

Reporting by Donny Kwok; Editing by Kim Coghill

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *