Tencent Holdings Ltd led a stocks rout after Chinese state media decried the “spiritual opium” of games, prompting the company to broach a ban for kids and triggering fears Beijing will set its sights next on the world’s largest gaming arena.
China’s most valuable corporation fell as much as 11% after an outlet run by the Xinhua News Agency published a blistering critique of their industry. The Economic Information Daily cited a student as saying some schoolmates played Tencent’s Honor Of Kings – one of its most popular titles – eight hours a day and called for stricter controls over time spent. The online link to the post was removed hours later without explanation – then restored to the paper’s website late in the day but with narcotics references stripped out.
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