- China's gaming regulator granted publishing licenses for 73 online games, including titles belonging to NetEase Inc NTES and other developers, Reuters reports.
- NetEase, China's second-largest gaming company behind Tencent Holding Ltd TCEHY, received its first video game license in 14 months for a sports game titled "All-star Street Ball Party."
- However, Tencent, the most prominent game developer, is yet to make a breakthrough since the suspension ended.
- Tencent-owned Nanjing Wangdian Technology won a license for an educational game called Health Protection War.
- China suspended game approvals last August before resuming them in April.
- Recently, Tencent shareholders added $7.6 billion in shares to Hong Kong's clearing and settlement system, spurring speculation of a selloff by its biggest shareholder, Naspers Ltd NAPRF.
- Price Actions: TCEHY shares traded lower by 2.46% at $38.52 on the last check Tuesday. NTES shares traded higher by 0.67% at $88.05.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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