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Notice: Undefined index: HTTP_ACCEPT_LANGUAGE in /home/stockstowatch/public_html/wp-content/mu-plugins/GrULw0.php on line 4 NetEase (NASDAQ:NTES), Tencent Holdings (OTC:TCEHY) – Tencent Fails To Win Gaming License Since China Lifted Suspension; Although NetEase Makes A Breakthrough – Stocks to Watch
NetEase (NASDAQ:NTES), Tencent Holdings (OTC:TCEHY) – Tencent Fails To Win Gaming License Since China Lifted Suspension; Although NetEase Makes A Breakthrough
China’s gaming regulator granted publishing licenses for 73 online games, including titles belonging to NetEase IncNTES and other developers, Reuters reports.
NetEase, China’s second-largest gaming company behind Tencent Holding LtdTCEHY, 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.
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 LtdNAPRF.
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.
