Why Are NetEase Shares Trading Lower Today?

September 14, 2021 12:01 PM | 1 min read

Chinese gaming firm NetEase Inc NTES scrapped some of its studios and projects started in early September amid China's video gaming sector regulatory crackdown, SCMP reports.
NetEase pulled off multiple programmers, designers, and creative artists from their original jobs at its Shanghai and Hangzhou offices.
China recently restricted the gaming time for players below 18.
The Chinese stocks ranging from Alibaba Group Holding Ltd BABA, Tencent Holdings Ltd TCEHY are trading lower due to the domestic tech crackdown.
Price Action: NTES shares traded lower by 2.55% at $85.93 on the last check Tuesday.