Fortnite, Tencent and the fate of world’s biggest game market

The Epic Games Inc. Fortnite: Battle Royale video game is seen in the App Store on an Apple Inc. iPhone displayed for a photograph in Washington, D.C., U.S., on Thursday, May 10, 2018. Fortnite, the hit game that's denting the stock prices of video-game makers after signing up 45 million players, didn't really take off until it became free and a free-for-all. Photographer: Andrew Harrer/Bloomberg

Tencent Holdings Ltd, the world’s biggest games company, needs some help from Fortnite, the world’s hottest game. 

Just a few months ago, Tencent reigned as the most valuable company in Asia, but it has since suffered a record stock plunge that has wiped more than US$140bil (RM575.33bil) off its market value. The primary reason: The Chinese government unexpectedly froze the approval of new games, including Fortnite, stunning investors and even Tencent’s management.