- Chinese government officials summoned domestic gaming firms, including Tencent Holdings Ltd TCEHY and NetEase Inc NTES, Reuters reports as per Xinhua.
- The government ordered the companies to limit minors' hours of access to their video games to protect their physical and mental health.
- The government urged the gaming companies to resist improper competition and focus on driving innovation.
- China had recently restricted the online gaming hours for players below eighteen.
- The relatively diversified Tencent focused on alternate avenues to diminish the impact of the clampdown.
- Price Action: NTES shares traded lower by 5.53% at $90.44 on the last check Wednesday.
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